Foundry Partners LLC Buys 85,115 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Foundry Partners LLC boosted its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 17.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 559,787 shares of the real estate investment trust’s stock after purchasing an additional 85,115 shares during the period. Foundry Partners LLC’s holdings in Apple Hospitality REIT were worth $8,593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ExodusPoint Capital Management LP raised its holdings in shares of Apple Hospitality REIT by 126.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust’s stock valued at $13,813,000 after purchasing an additional 503,114 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Apple Hospitality REIT by 18.6% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 12,959 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 2,030 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in Apple Hospitality REIT during the 4th quarter worth about $51,000. Pictet Asset Management Holding SA boosted its stake in shares of Apple Hospitality REIT by 4.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 70,675 shares of the real estate investment trust’s stock worth $1,085,000 after buying an additional 2,759 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Apple Hospitality REIT by 3.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 293,100 shares of the real estate investment trust’s stock valued at $4,499,000 after acquiring an additional 9,000 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Stock Down 9.3 %

APLE opened at $11.70 on Friday. The stock’s fifty day simple moving average is $14.41 and its 200 day simple moving average is $15.02. Apple Hospitality REIT, Inc. has a 1-year low of $11.55 and a 1-year high of $16.50. The stock has a market cap of $2.80 billion, a PE ratio of 13.76 and a beta of 1.12. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. As a group, research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.21%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio is presently 109.09%.

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.