Prudential Financial Inc. Has $3.52 Million Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Prudential Financial Inc. lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 20.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 227,285 shares of the real estate investment trust’s stock after selling 58,433 shares during the quarter. Prudential Financial Inc. owned 0.09% of Apple Hospitality REIT worth $3,523,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in Apple Hospitality REIT in the 4th quarter valued at $4,651,000. Holocene Advisors LP acquired a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at about $4,285,000. Raymond James Financial Inc. bought a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at about $3,844,000. Barclays PLC boosted its position in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock worth $6,273,000 after buying an additional 229,293 shares during the period. Finally, Systematic Financial Management LP grew its holdings in shares of Apple Hospitality REIT by 11.0% during the third quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock worth $31,183,000 after buying an additional 207,256 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on APLE shares. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Trading Up 0.1 %

Shares of Apple Hospitality REIT stock opened at $12.93 on Wednesday. The stock has a market cap of $3.10 billion, a P/E ratio of 15.21 and a beta of 1.12. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12-month low of $12.65 and a 12-month high of $16.50. The business’s 50 day moving average is $14.52 and its 200-day moving average is $15.05.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 109.09%.

About Apple Hospitality REIT

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.