Meritage Portfolio Management Has $4.38 Million Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Meritage Portfolio Management lessened its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,474 shares of the real estate investment trust’s stock after selling 2,158 shares during the period. Meritage Portfolio Management’s holdings in Apple Hospitality REIT were worth $4,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter worth $41,000. Quantbot Technologies LP acquired a new stake in Apple Hospitality REIT during the third quarter valued at $72,000. Blue Trust Inc. boosted its position in Apple Hospitality REIT by 11.9% during the fourth quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 734 shares during the last quarter. Goldstein Advisors LLC acquired a new stake in Apple Hospitality REIT during the third quarter valued at $157,000. Finally, Shelton Capital Management acquired a new stake in Apple Hospitality REIT during the third quarter valued at $159,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock traded down $0.27 during trading on Thursday, reaching $15.00. The company’s stock had a trading volume of 1,803,112 shares, compared to its average volume of 1,884,041. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. The business’s fifty day moving average price is $16.11 and its 200-day moving average price is $16.27. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 19.27 and a beta of 1.08. Apple Hospitality REIT, Inc. has a one year low of $14.22 and a one year high of $17.90.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.96 annualized dividend and a yield of 6.40%. Apple Hospitality REIT’s dividend payout ratio is 123.08%.

Wall Street Analyst Weigh In

APLE has been the subject of a number of research reports. StockNews.com cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $18.00 in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and an average price target of $18.40.

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.