Price T Rowe Associates Inc. MD Has $126.47 Million Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Price T Rowe Associates Inc. MD grew its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 27.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,239,061 shares of the real estate investment trust's stock after buying an additional 1,761,996 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.43% of Apple Hospitality REIT worth $126,472,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in APLE. Norges Bank acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at $21,099,000. ExodusPoint Capital Management LP raised its holdings in Apple Hospitality REIT by 126.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust's stock worth $13,813,000 after purchasing an additional 503,114 shares during the last quarter. Advisors Preferred LLC bought a new stake in Apple Hospitality REIT during the 4th quarter worth about $4,651,000. First Trust Advisors LP lifted its position in Apple Hospitality REIT by 48.8% during the 4th quarter. First Trust Advisors LP now owns 771,672 shares of the real estate investment trust's stock valued at $11,845,000 after purchasing an additional 253,059 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Apple Hospitality REIT in the 4th quarter valued at about $3,844,000. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Stock Performance

APLE stock remained flat at $11.72 during midday trading on Friday. The company's stock had a trading volume of 4,737,965 shares, compared to its average volume of 2,243,901. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The company has a market cap of $2.80 billion, a P/E ratio of 13.79 and a beta of 1.07. The stock's 50 day moving average is $12.72 and its two-hundred day moving average is $14.48.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. On average, analysts expect 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 Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 8.19%. The ex-dividend date of this dividend is Wednesday, April 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 121.52%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on APLE shares. Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. 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 note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.80.

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.