Econ Financial Services Corp Makes New Investment in Apple Hospitality REIT, Inc. (NYSE:APLE)

Econ Financial Services Corp bought a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,374 shares of the real estate investment trust’s stock, valued at approximately $374,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings 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 buying an additional 780 shares during the last quarter. Covestor Ltd boosted its stake 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 acquiring an additional 1,831 shares during the last quarter. KBC Group NV grew its position in shares of Apple Hospitality REIT by 37.8% during the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,541 shares during the period. Blue Trust Inc. increased its stake in shares of Apple Hospitality REIT by 21.3% in the 3rd quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Apple Hospitality REIT by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 2,506 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective for the company. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $15.41 on Wednesday. The stock has a 50-day moving average price of $15.50 and a 200 day moving average price of $15.06. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $16.99. The stock has a market capitalization of $3.70 billion, a P/E ratio of 18.12 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data 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 company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same period last year, the business earned $0.45 earnings per share. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a yield of 6.23%. Apple Hospitality REIT’s payout ratio is 112.94%.

Apple Hospitality REIT 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.