Skandinaviska Enskilda Banken AB publ decreased its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 40.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,700 shares of the real estate investment trust’s stock after selling 31,600 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Apple Hospitality REIT were worth $873,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC acquired a new stake in Apple Hospitality REIT during the first quarter valued at approximately $125,000. RMR Advisors LLC acquired a new stake in Apple Hospitality REIT during the first quarter valued at approximately $191,000. Bruderman Asset Management LLC boosted its stake in Apple Hospitality REIT by 3.7% in the first quarter. Bruderman Asset Management LLC now owns 10,361 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 372 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in Apple Hospitality REIT during the first quarter valued at approximately $208,000. Finally, SG Americas Securities LLC boosted its stake in Apple Hospitality REIT by 28.6% in the first quarter. SG Americas Securities LLC now owns 11,300 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 2,514 shares in the last quarter. 47.66% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Hospitality REIT, Inc. (NYSE APLE) traded up 0.44% during midday trading on Friday, reaching $18.18. The company’s stock had a trading volume of 595,600 shares. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 25.57 and a beta of 0.60. Apple Hospitality REIT, Inc. has a 52-week low of $17.32 and a 52-week high of $20.68. The stock has a 50-day moving average price of $18.77 and a 200-day moving average price of $19.15.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Thursday, May 4th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.01. Apple Hospitality REIT had a return on equity of 4.38% and a net margin of 13.01%. The firm had revenue of $292.90 million for the quarter, compared to analysts’ expectations of $291.05 million. During the same quarter last year, the company posted $0.40 EPS. The firm’s revenue was up 30.5% on a year-over-year basis. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post $0.97 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, August 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.60%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 166.67%.
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A number of brokerages have commented on APLE. BidaskClub cut Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Canaccord Genuity reissued a “hold” rating and issued a $20.00 price objective on shares of Apple Hospitality REIT in a research note on Monday, May 8th. FBR & Co reissued a “hold” rating on shares of Apple Hospitality REIT in a research note on Saturday, May 6th. Finally, Wells Fargo & Company began coverage on Apple Hospitality REIT in a research note on Wednesday, May 3rd. They issued a “market perform” rating for the company. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.40.
In related news, insider Glade M. Knight purchased 5,400 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were bought at an average price of $18.99 per share, for a total transaction of $102,546.00. Following the purchase, the insider now directly owns 10,021,357 shares of the company’s stock, valued at approximately $190,305,569.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glade M. Knight purchased 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average price of $18.51 per share, for a total transaction of $55,530.00. Following the purchase, the insider now directly owns 10,015,957 shares in the company, valued at $185,395,364.07. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,800 shares of company stock worth $258,732 in the last quarter. Company insiders own 6.40% of the company’s stock.
About Apple Hospitality REIT
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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