Pensionfund PDN Acquires Shares of 50,000 Apple Hospitality REIT, Inc. $APLE

Pensionfund PDN bought a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) in the fourth quarter, HoldingsChannel.com reports. The fund bought 50,000 shares of the real estate investment trust’s stock, valued at approximately $593,000.

A number of other large investors also recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in shares of Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 2,640 shares in the last quarter. Cloud Capital Management LLC bought a new position in Apple Hospitality REIT in the 3rd quarter worth approximately $34,000. Danske Bank A S bought a new position in Apple Hospitality REIT in the 3rd quarter worth approximately $36,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Apple Hospitality REIT by 97.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,872 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Up 2.7%

NYSE APLE opened at $11.91 on Tuesday. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $13.55. The stock has a 50-day simple moving average of $12.13 and a 200 day simple moving average of $11.99. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.81 billion, a PE ratio of 16.09 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). The company had revenue of $326.44 million for the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. Research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 8.1%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price objective on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Finally, Barclays started coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.92.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.