Pictet Asset Management Holding SA Raises Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Pictet Asset Management Holding SA increased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 70,675 shares of the real estate investment trust’s stock after purchasing an additional 2,759 shares during the period. Pictet Asset Management Holding SA’s holdings in Apple Hospitality REIT were worth $1,085,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Apple Hospitality REIT during the 4th quarter valued at about $21,099,000. Advisors Preferred LLC bought a new position in Apple Hospitality REIT in the fourth quarter worth approximately $4,651,000. Raymond James Financial Inc. purchased a new stake in Apple Hospitality REIT during the fourth quarter worth $3,844,000. Barclays PLC boosted its position in Apple Hospitality REIT by 118.8% during the 3rd quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock valued at $6,273,000 after acquiring an additional 229,293 shares in the last quarter. Finally, Isthmus Partners LLC purchased a new position in shares of Apple Hospitality REIT in the 4th quarter valued at $3,069,000. 89.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APLE has been the topic of a number of recent research reports. BMO Capital Markets started coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective on the stock. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company cut their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.80.

Apple Hospitality REIT Stock Down 1.7 %

Apple Hospitality REIT stock opened at $11.50 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $2.76 billion, a PE ratio of 13.53 and a beta of 1.12. The business has a 50 day simple moving average of $14.33 and a 200-day simple moving average of $15.00. Apple Hospitality REIT, Inc. has a 12 month low of $11.11 and a 12 month high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 8.35%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s payout ratio is 109.09%.

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.