Quarry LP Has $48,000 Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Quarry LP raised its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 128.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,118 shares of the real estate investment trust’s stock after buying an additional 1,751 shares during the quarter. Quarry LP’s holdings in Apple Hospitality REIT were worth $48,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Apple Hospitality REIT in the 4th quarter worth about $31,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $51,000. GAMMA Investing LLC boosted its stake in shares of Apple Hospitality REIT by 80.9% in the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 2,193 shares during the period. Quadrant Capital Group LLC grew its position in Apple Hospitality REIT by 20.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 1,128 shares in the last quarter. Finally, FIL Ltd increased its stake in Apple Hospitality REIT by 76.4% during the 4th quarter. FIL Ltd now owns 8,599 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 3,725 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

APLE stock opened at $11.72 on Friday. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 13.79 and a beta of 1.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a 50 day simple moving average of $12.72 and a 200 day simple moving average of $14.49. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $327.70 million during the quarter, compared to analysts’ expectations of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. Research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 8.19%. The ex-dividend date is Wednesday, April 30th. Apple Hospitality REIT’s dividend payout ratio is currently 121.52%.

Analysts Set New Price Targets

Several analysts have recently issued reports on APLE shares. Wells Fargo & Company reduced 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. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.