Geode Capital Management LLC Purchases 62,149 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Geode Capital Management LLC increased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,761,364 shares of the real estate investment trust’s stock after acquiring an additional 62,149 shares during the period. Geode Capital Management LLC owned about 2.40% of Apple Hospitality REIT worth $85,571,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. GAMMA Investing LLC boosted its position in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Apple Hospitality REIT by 1.2% in the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock worth $996,000 after buying an additional 813 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Apple Hospitality REIT by 6.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 921 shares during the last quarter. Ellis Investment Partners LLC increased its holdings in Apple Hospitality REIT by 4.6% during the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock worth $318,000 after buying an additional 948 shares during the last quarter. Finally, Inspire Advisors LLC raised its position in Apple Hospitality REIT by 8.2% in the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 1,008 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $15.34 on Friday. The stock has a fifty day moving average of $15.57 and a 200-day moving average of $14.88. The stock has a market cap of $3.68 billion, a PE ratio of 18.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.30.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.26%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $16.80.

Apple Hospitality REIT 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.