Spirit of America Management Corp NY Sells 13,350 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Spirit of America Management Corp NY lessened its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 47.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,860 shares of the real estate investment trust’s stock after selling 13,350 shares during the period. Spirit of America Management Corp NY’s holdings in Apple Hospitality REIT were worth $228,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares during the period. Covestor Ltd increased its stake in Apple Hospitality REIT by 30.0% in the 3rd quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 1,831 shares during the last quarter. KBC Group NV raised its holdings in shares of Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,541 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apple Hospitality REIT by 28.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 2,506 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Apple Hospitality REIT by 21.3% during the third quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 2,059 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 0.4 %

Shares of APLE opened at $15.45 on Thursday. The business’s 50 day moving average is $15.48 and its 200 day moving average is $15.06. 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, Inc. has a 12-month low of $13.60 and a 12-month high of $16.99. The company has a market capitalization of $3.71 billion, a PE ratio of 18.17 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly 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). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same period in the previous year, the business posted $0.45 EPS. Research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.22%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Analysts Set New Price Targets

Several analysts have recently weighed in on APLE shares. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their target price for the company 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.60.

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.