Harbor Capital Advisors Inc. Has $2.29 Million Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Harbor Capital Advisors Inc. grew its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.7% in the third quarter, HoldingsChannel.com reports. The fund owned 154,245 shares of the real estate investment trust’s stock after buying an additional 5,515 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Apple Hospitality REIT were worth $2,291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after purchasing an additional 1,217,142 shares during the last quarter. Masterton Capital Management LP bought a new position in shares of Apple Hospitality REIT in the second quarter valued at about $3,378,000. Foundry Partners LLC lifted its position in Apple Hospitality REIT by 11.3% during the 1st quarter. Foundry Partners LLC now owns 347,717 shares of the real estate investment trust’s stock worth $5,696,000 after buying an additional 35,166 shares in the last quarter. Entropy Technologies LP bought a new stake in Apple Hospitality REIT during the 1st quarter worth about $338,000. Finally, Dimensional Fund Advisors LP increased its position in Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock valued at $49,072,000 after acquiring an additional 154,159 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Up 0.3 %

Shares of NYSE APLE opened at $14.73 on Tuesday. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The firm has a market capitalization of $3.57 billion, a P/E ratio of 16.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day simple moving average is $14.74 and its 200 day simple moving average is $14.62.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). The company had revenue of $390.08 million during the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Oppenheimer reissued an “outperform” rating and issued a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.25.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.