Connor Clark & Lunn Investment Management Ltd. Buys Shares of 41,159 Apple Hospitality REIT, Inc. (NYSE:APLE)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,159 shares of the real estate investment trust’s stock, valued at approximately $611,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in shares of Apple Hospitality REIT during the 2nd quarter valued at $26,000. Quarry LP lifted its holdings in shares of Apple Hospitality REIT by 127.5% during the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC boosted its position in 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 valued at $40,000 after buying an additional 780 shares during the last quarter. Headlands Technologies LLC increased its holdings in Apple Hospitality REIT by 4,406.5% in the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 5,420 shares during the period. Finally, Palouse Capital Management Inc. purchased a new position in Apple Hospitality REIT during the 2nd quarter worth approximately $99,000. 89.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APLE has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Stock Up 0.2 %

APLE stock opened at $16.20 on Friday. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm’s fifty day moving average is $15.27 and its 200 day moving average is $14.72. The firm has a market cap of $3.89 billion, a PE ratio of 19.06 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. During the same period in the previous year, the company posted $0.45 EPS. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.08 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 5.93%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

About Apple Hospitality REIT

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.