Foundry Partners LLC Purchases 108,523 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Foundry Partners LLC lifted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 474,672 shares of the real estate investment trust’s stock after purchasing an additional 108,523 shares during the period. Foundry Partners LLC’s holdings in Apple Hospitality REIT were worth $7,049,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the second quarter valued at approximately $26,000. Quarry LP increased its holdings in shares of Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,290 shares during the period. GAMMA Investing LLC increased its stake 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 period. Covestor Ltd lifted its holdings in Apple Hospitality REIT by 115.6% in the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,313 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 5,420 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE opened at $15.36 on Thursday. The firm’s 50-day moving average price is $15.09 and its 200-day moving average price is $14.67. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.90. The company has a market cap of $3.69 billion, a PE ratio of 18.07 and a beta of 1.11. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same period in the prior year, the company posted $0.45 EPS. As a group, analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 6.25%. Apple Hospitality REIT’s dividend payout ratio is currently 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.