Geode Capital Management LLC Sells 48,903 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Geode Capital Management LLC cut its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,712,461 shares of the real estate investment trust’s stock after selling 48,903 shares during the quarter. Geode Capital Management LLC’s holdings in Apple Hospitality REIT were worth $87,704,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in APLE. Brown Brothers Harriman & Co. bought a new position in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $51,000. GAMMA Investing LLC raised its position in Apple Hospitality REIT by 80.9% in the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 2,193 shares during the last quarter. KBC Group NV boosted its stake in Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 2,541 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Apple Hospitality REIT during the fourth quarter worth $159,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at $167,000. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $11.31 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 13.30 and a beta of 1.00. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $13.83 and a 200 day moving average price of $14.84.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. Research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.49%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 109.09%.

Analyst Ratings Changes

APLE has been the topic of several research reports. 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. Wells Fargo & Company decreased their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Moderate Buy” and a consensus target price of $16.80.

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.