Cipher Capital LP boosted its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 164.2% during the fourth quarter, Holdings Channel reports. The firm owned 218,400 shares of the company’s stock after buying an additional 135,726 shares during the period. Cipher Capital LP owned about 0.10% of Apple Hospitality REIT worth $4,363,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. DIAM Co. Ltd. boosted its stake in Apple Hospitality REIT by 5.2% in the third quarter. DIAM Co. Ltd. now owns 404,393 shares of the company’s stock worth $7,509,000 after buying an additional 20,131 shares during the last quarter. Bank of Montreal Can boosted its stake in Apple Hospitality REIT by 913.8% in the third quarter. Bank of Montreal Can now owns 308,356 shares of the company’s stock worth $5,708,000 after buying an additional 277,940 shares during the last quarter. BlackRock Inc. boosted its stake in Apple Hospitality REIT by 10.4% in the third quarter. BlackRock Inc. now owns 247,295 shares of the company’s stock worth $4,579,000 after buying an additional 23,318 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in Apple Hospitality REIT by 42.3% in the third quarter. Spirit of America Management Corp NY now owns 208,699 shares of the company’s stock worth $3,863,000 after buying an additional 62,022 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Apple Hospitality REIT by 21.0% in the third quarter. TIAA CREF Investment Management LLC now owns 548,040 shares of the company’s stock worth $10,144,000 after buying an additional 94,938 shares during the last quarter. 40.94% of the stock is currently owned by institutional investors and hedge funds.
Apple Hospitality REIT, Inc. (NYSE:APLE) traded up 1.04% during mid-day trading on Friday, hitting $20.34. 1,483,662 shares of the company’s stock were exchanged. The stock has a market cap of $4.54 billion, a PE ratio of 42.55 and a beta of 0.67. Apple Hospitality REIT, Inc. has a 12 month low of $17.32 and a 12 month high of $20.68. The stock’s 50 day moving average price is $20.10 and its 200-day moving average price is $19.16.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, February 3rd will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Wednesday, February 1st. Apple Hospitality REIT’s payout ratio is currently 250.01%.
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A number of analysts have weighed in on APLE shares. Canaccord Genuity reaffirmed a “buy” rating and set a $22.00 target price on shares of Apple Hospitality REIT in a research note on Monday, November 7th. FBR & Co reaffirmed a “hold” rating and set a $20.00 target price on shares of Apple Hospitality REIT in a research note on Wednesday, November 9th. Zacks Investment Research cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Friday, November 11th. Finally, Robert W. Baird raised shares of Apple Hospitality REIT from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $19.00 to $20.00 in a research note on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.60.
In other news, Director Redd Hugh bought 7,000 shares of the stock in a transaction on Tuesday, November 15th. The shares were acquired at an average cost of $17.91 per share, for a total transaction of $125,370.00. Following the purchase, the director now directly owns 40,323 shares of the company’s stock, valued at approximately $722,184.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company’s stock.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-advised real estate investment trust (REIT) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company owns hotel properties throughout the United States. The Company owns approximately 180 hotels operating in over 30 states with an aggregate of approximately 22,960 rooms.
Want to see what other hedge funds are holding APLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Hospitality REIT, Inc. (NYSE:APLE).
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