Rhumbline Advisers Raises Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Rhumbline Advisers raised its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 409,305 shares of the real estate investment trust’s stock after buying an additional 4,567 shares during the period. Rhumbline Advisers owned approximately 0.18% of Apple Hospitality REIT worth $6,352,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of Apple Hospitality REIT by 11.8% during the 1st quarter. Raymond James & Associates now owns 99,450 shares of the real estate investment trust’s stock worth $1,787,000 after purchasing an additional 10,534 shares in the last quarter. US Bancorp DE increased its stake in shares of Apple Hospitality REIT by 67.6% during the 1st quarter. US Bancorp DE now owns 7,542 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 3,043 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Apple Hospitality REIT during the 1st quarter worth approximately $366,000. Acadian Asset Management LLC acquired a new stake in Apple Hospitality REIT during the first quarter worth approximately $25,000. Finally, MetLife Investment Management LLC boosted its position in Apple Hospitality REIT by 55.0% during the first quarter. MetLife Investment Management LLC now owns 113,977 shares of the real estate investment trust’s stock worth $2,048,000 after acquiring an additional 40,438 shares during the last quarter. 80.53% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 1.4 %

Shares of APLE opened at $15.99 on Thursday. The firm has a market cap of $3.66 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 4.04 and a beta of 1.16. The company’s fifty day moving average is $15.12 and its two-hundred day moving average is $15.26. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $18.22. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.01%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 137.14%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APLE. Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 in a research report on Wednesday, July 12th. Barclays raised their target price on shares of Apple Hospitality REIT from $19.00 to $20.00 in a research report on Wednesday, July 5th. Oppenheimer decreased their target price on shares of Apple Hospitality REIT from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. B. Riley decreased their target price on shares of Apple Hospitality REIT from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Finally, StockNews.com began coverage on shares of Apple Hospitality REIT in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Moderate Buy” and a consensus target price of $18.20.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $15.07 per share, for a total transaction of $75,350.00. Following the acquisition, the chairman now owns 573,109 shares of the company’s stock, valued at approximately $8,636,752.63. The acquisition was disclosed in a filing with the SEC, which is available at this link. 7.00% of the stock is owned by company insiders.

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 220 hotels with more than 28,900 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.