Here is What Hedge Funds Think About Apple Hospitality REIT Inc (APLE)

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As aggregate interest increased, some big names have jumped into Apple Hospitality REIT Inc (NYSE:APLE) headfirst. Castle Ridge Investment Management, led by Michael Swotes, established the most outsized position in Apple Hospitality REIT Inc (NYSE:APLE). Castle Ridge Investment Management had $3.1 million invested in the company at the end of the quarter. The other funds with new positions in the stock are John Overdeck and David Siegel’s Two Sigma Advisors, Jim Simons’s Renaissance Technologies, and Matthew Tewksbury’s Stevens Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Apple Hospitality REIT Inc (NYSE:APLE) but similarly valued. We will take a look at ONE Gas Inc (NYSE:OGS), Hawaiian Electric Industries, Inc. (NYSE:HE), Snyder S Lance Inc (NASDAQ:LNCE), and Yelp Inc (NYSE:YELP). This group of stocks’ market values are closest to APLE’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
OGS 11 66906 -1
HE 13 117484 2
LNCE 8 136348 -2
YELP 40 1087703 -5

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $352 million. That figure was $28 million in APLE’s case. Yelp Inc (NYSE:YELP) is the most popular stock in this table. On the other hand Snyder S Lance Inc (NASDAQ:LNCE) is the least popular one with only 8 bullish hedge fund positions. Apple Hospitality REIT Inc (NYSE:APLE) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard YELP might be a better candidate to consider taking a long position in.

Disclosure: None


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