Apple Hospitality REIT, Inc. (NYSE:APLE) Stake Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 267,395 shares of the real estate investment trust’s stock after purchasing an additional 6,304 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Apple Hospitality REIT were worth $3,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on APLE shares. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Stock Down 0.5 %

Shares of Apple Hospitality REIT stock opened at $15.91 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The firm has a market capitalization of $3.82 billion, a PE ratio of 18.72 and a beta of 1.11. The stock’s fifty day moving average is $14.91 and its 200-day moving average is $14.64.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data 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 firm had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts anticipate 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 Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

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 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.