Eagle Asset Management Inc. reduced its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 351,984 shares of the real estate investment trust’s stock after selling 2,311 shares during the period. Eagle Asset Management Inc. owned about 0.16% of Apple Hospitality REIT worth $6,585,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Apple Hospitality REIT by 16.5% during the 1st quarter. Vanguard Group Inc. now owns 32,734,825 shares of the real estate investment trust’s stock valued at $625,236,000 after purchasing an additional 4,627,374 shares in the last quarter. BlackRock Inc. raised its position in Apple Hospitality REIT by 3,420.4% during the 1st quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock valued at $229,099,000 after purchasing an additional 11,653,910 shares in the last quarter. State Street Corp raised its position in Apple Hospitality REIT by 2.4% during the 1st quarter. State Street Corp now owns 5,426,542 shares of the real estate investment trust’s stock valued at $103,644,000 after purchasing an additional 128,765 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Apple Hospitality REIT by 155.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock valued at $48,531,000 after purchasing an additional 1,547,960 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Apple Hospitality REIT by 38.0% during the 1st quarter. Wells Fargo & Company MN now owns 2,507,835 shares of the real estate investment trust’s stock valued at $47,901,000 after purchasing an additional 690,453 shares in the last quarter. 49.18% of the stock is owned by hedge funds and other institutional investors.
Apple Hospitality REIT, Inc. (APLE) opened at 18.65 on Friday. The stock has a market capitalization of $4.16 billion, a P/E ratio of 22.63 and a beta of 0.60. The company’s 50-day moving average price is $18.17 and its 200 day moving average price is $18.68. Apple Hospitality REIT, Inc. has a 52 week low of $17.32 and a 52 week high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The business had revenue of $331.70 million during the quarter, compared to analyst estimates of $335.94 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. Equities research analysts expect that Apple Hospitality REIT, Inc. will post $1.03 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which was paid on Monday, September 18th. Shareholders of record on Tuesday, September 5th were paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend was Thursday, August 31st. Apple Hospitality REIT’s dividend payout ratio is presently 150.00%.
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A number of brokerages have recently issued reports on APLE. BidaskClub downgraded Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Canaccord Genuity reiterated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.75.
In other news, insider Justin G. Knight acquired 17,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of $17.62 per share, with a total value of $299,540.00. Following the completion of the acquisition, the insider now owns 1,005,274 shares in the company, valued at approximately $17,712,927.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Redd Hugh acquired 2,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average cost of $17.96 per share, for a total transaction of $35,920.00. Following the acquisition, the director now owns 59,495 shares of the company’s stock, valued at approximately $1,068,530.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 45,000 shares of company stock worth $794,950. 6.30% of the stock is owned by insiders.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
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