Miller Global Investments LLC Takes Position in Apple Hospitality REIT, Inc. $APLE

Miller Global Investments LLC purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) in the 4th quarter, Holdings Channel reports. The fund purchased 70,217 shares of the real estate investment trust’s stock, valued at approximately $832,000.

A number of other large investors have also modified their holdings of APLE. Strs Ohio raised its stake in Apple Hospitality REIT by 18.1% during the 3rd quarter. Strs Ohio now owns 979,334 shares of the real estate investment trust’s stock valued at $11,762,000 after acquiring an additional 150,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Apple Hospitality REIT by 285.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after purchasing an additional 1,000,214 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Apple Hospitality REIT during the second quarter valued at $1,794,000. Centerbridge Partners L.P. increased its holdings in shares of Apple Hospitality REIT by 18.4% during the third quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock valued at $26,996,000 after purchasing an additional 350,000 shares during the period. Finally, Peregrine Capital Management LLC bought a new stake in shares of Apple Hospitality REIT during the third quarter valued at about $5,129,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE opened at $11.86 on Friday. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $13.69. The firm has a market cap of $2.79 billion, a P/E ratio of 16.02 and a beta of 0.81. The stock has a fifty day moving average price of $12.16 and a two-hundred day moving average price of $12.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). The firm had revenue of $326.44 million during the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. Research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.08 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) annualized dividend and a yield of 8.1%. Apple Hospitality REIT’s payout ratio is 129.73%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APLE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Barclays began coverage on shares of Apple Hospitality REIT in a research note on Tuesday, January 6th. They set an “overweight” rating and a $14.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.92.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.