Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,243,575 shares of the real estate investment trust’s stock after acquiring an additional 18,858 shares during the period. JPMorgan Chase & Co.’s holdings in Apple Hospitality REIT were worth $77,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its position in shares of Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,290 shares during the period. GAMMA Investing LLC grew its stake 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 acquiring an additional 780 shares in the last quarter. Headlands Technologies LLC increased its holdings in Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 5,420 shares during the period. Palouse Capital Management Inc. purchased a new position in Apple Hospitality REIT in the second quarter worth approximately $99,000. Finally, Covestor Ltd lifted its position in shares of Apple Hospitality REIT by 30.0% during the 3rd quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 1,831 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Down 1.4 %

NYSE APLE opened at $15.14 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company’s fifty day moving average price is $15.68 and its two-hundred day moving average price is $14.95. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.08. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 17.81 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (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 firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same period in the previous year, the firm earned $0.45 earnings per share. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.34%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Wells Fargo & Company reduced their target price on 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, BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.80.

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.