Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Position Reduced by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,297 shares of the real estate investment trust’s stock after selling 948 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Apple Hospitality REIT were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP lifted its holdings in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,290 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Apple Hospitality REIT by 40.4% in the 3rd 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 last quarter. Headlands Technologies LLC lifted its holdings in shares of 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 purchasing an additional 5,420 shares during the last quarter. Palouse Capital Management Inc. acquired a new position in Apple Hospitality REIT during the 2nd quarter valued at approximately $99,000. Finally, Covestor Ltd grew its stake in 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 buying an additional 1,831 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $14.60 on Friday. The firm’s 50-day simple moving average is $15.65 and its 200 day simple moving average is $14.97. The stock has a market cap of $3.50 billion, a P/E ratio of 17.18 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $16.99.

Apple Hospitality REIT (NYSE:APLE) last issued 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 company had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Tuesday, December 31st. Apple Hospitality REIT’s payout ratio is currently 112.94%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Oppenheimer restated an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and an average target price of $16.50.

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.