Connor Clark & Lunn Investment Management Ltd. Buys Shares of 63,043 Apple Hospitality REIT, Inc. $APLE

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,043 shares of the real estate investment trust’s stock, valued at approximately $736,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Metis Global Partners LLC grew its stake in Apple Hospitality REIT by 29.3% in the 2nd quarter. Metis Global Partners LLC now owns 36,561 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 8,289 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Apple Hospitality REIT by 11.5% in the second quarter. Penserra Capital Management LLC now owns 111,774 shares of the real estate investment trust’s stock valued at $1,304,000 after purchasing an additional 11,507 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Apple Hospitality REIT by 9.6% in the second quarter. Bank of New York Mellon Corp now owns 1,738,988 shares of the real estate investment trust’s stock valued at $20,294,000 after purchasing an additional 151,621 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Apple Hospitality REIT by 2.3% during the 2nd quarter. Bank of Montreal Can now owns 113,657 shares of the real estate investment trust’s stock worth $1,326,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in shares of Apple Hospitality REIT during the 2nd quarter worth approximately $5,248,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $11.56 on Wednesday. The company has a market cap of $2.73 billion, a P/E ratio of 15.41 and a beta of 1.04. The business has a fifty day simple moving average of $11.83 and a 200-day simple moving average of $11.99. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Equities 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 announced a monthly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Friday, November 28th. Apple Hospitality REIT’s payout ratio is presently 131.51%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday, October 30th. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Cantor Fitzgerald began coverage on Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective on the stock. Robert W. Baird cut their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.70.

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.