Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 328,076 shares of the real estate investment trust’s stock after selling 2,542 shares during the quarter. Meritage Portfolio Management’s holdings in Apple Hospitality REIT were worth $5,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Apple Hospitality REIT by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after buying an additional 182,917 shares during the last quarter. Centiva Capital LP acquired a new stake in Apple Hospitality REIT in the 3rd quarter valued at approximately $1,067,000. Barclays PLC raised its stake in Apple Hospitality REIT by 118.8% during the 3rd quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock valued at $6,273,000 after acquiring an additional 229,293 shares in the last quarter. Sound Income Strategies LLC raised its stake in Apple Hospitality REIT by 14.9% during the 3rd quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after acquiring an additional 105,993 shares in the last quarter. Finally, Foundry Partners LLC boosted its position in Apple Hospitality REIT by 29.6% during the 3rd quarter. Foundry Partners LLC now owns 474,672 shares of the real estate investment trust’s stock worth $7,049,000 after acquiring an additional 108,523 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APLE. BMO Capital Markets began coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.60.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $15.41 on Wednesday. Apple Hospitality REIT, Inc. has a 52 week low of $13.60 and a 52 week high of $16.99. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $15.50 and its two-hundred day moving average price is $15.06. The stock has a market cap of $3.70 billion, a PE ratio of 18.12 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.23%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

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.