Edgestream Partners L.P. Makes New Investment in Apple Hospitality REIT, Inc. (NYSE:APLE)

Edgestream Partners L.P. purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 99,194 shares of the real estate investment trust’s stock, valued at approximately $1,499,000.

Other large investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Apple Hospitality REIT during the 1st quarter worth about $25,000. Advisory Services Network LLC boosted its stake in shares of Apple Hospitality REIT by 255.5% during the 1st quarter. Advisory Services Network LLC now owns 2,087 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,500 shares during the period. First Manhattan Co. purchased a new position in shares of Apple Hospitality REIT during the 1st quarter worth about $99,000. Tower Research Capital LLC TRC boosted its stake in shares of Apple Hospitality REIT by 189.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,620 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 3,681 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Apple Hospitality REIT during the 2nd quarter worth about $84,000. 80.53% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Trading Up 0.3 %

NYSE:APLE opened at $16.55 on Tuesday. Apple Hospitality REIT, Inc. has a one year low of $13.66 and a one year high of $18.22. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market cap of $3.79 billion, a P/E ratio of 23.64 and a beta of 1.13. The firm has a 50-day simple moving average of $15.77 and a 200-day simple moving average of $15.35.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 5.80%. Apple Hospitality REIT’s dividend payout ratio is currently 137.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Sunday, November 12th. Wells Fargo & Company lifted their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, November 13th. B. Riley decreased their price objective on shares of Apple Hospitality REIT from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Wolfe Research began coverage on shares of Apple Hospitality REIT in a report on Wednesday, September 27th. They set a “peer perform” rating for the company. Finally, Oppenheimer decreased their price objective on shares of Apple Hospitality REIT from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.20.

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 220 hotels with more than 28,900 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.