Principal Financial Group Inc. increased its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,274 shares of the real estate investment trust’s stock after buying an additional 2,750 shares during the period. Principal Financial Group Inc.’s holdings in Apple Hospitality REIT were worth $559,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC bought a new position in Apple Hospitality REIT during the first quarter worth approximately $125,000. RMR Advisors LLC bought a new position in Apple Hospitality REIT during the first quarter worth approximately $191,000. Bruderman Asset Management LLC raised its position 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 worth $198,000 after buying an additional 372 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Apple Hospitality REIT during the first quarter worth approximately $208,000. Finally, SG Americas Securities LLC raised its position 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 worth $216,000 after buying an additional 2,514 shares during the period. Hedge funds and other institutional investors own 47.64% of the company’s stock.
Apple Hospitality REIT, Inc. (NYSE APLE) traded down 1.76% during midday trading on Tuesday, hitting $17.91. The company had a trading volume of 1,526,751 shares. Apple Hospitality REIT, Inc. has a 52 week low of $17.32 and a 52 week high of $20.68. The firm’s 50 day moving average is $18.66 and its 200-day moving average is $19.13. The firm has a market capitalization of $3.99 billion, a P/E ratio of 25.19 and a beta of 0.60.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.01. The firm had revenue of $331.70 million during the quarter, compared to the consensus estimate of $335.94 million. Apple Hospitality REIT had a return on equity of 4.38% and a net margin of 13.01%. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post $0.97 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Thursday, August 3rd will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 6.70%. Apple Hospitality REIT’s payout ratio is currently 166.67%.
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APLE has been the topic of several recent analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. BidaskClub lowered Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Canaccord Genuity reiterated a “hold” rating and issued a $20.00 price target on shares of Apple Hospitality REIT in a research note on Monday, May 8th. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, Wells Fargo & Company initiated coverage on Apple Hospitality REIT in a research note on Wednesday, May 3rd. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $19.40.
In other news, insider Justin G. Knight bought 5,400 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, June 6th. The shares were acquired at an average price of $18.64 per share, with a total value of $100,656.00. Following the completion of the purchase, the insider now directly owns 1,005,274 shares in the company, valued at $18,738,307.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Glade M. Knight bought 3,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $18.51 per share, for a total transaction of $55,530.00. Following the purchase, the insider now owns 10,015,957 shares of the company’s stock, valued at $185,395,364.07. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 13,800 shares of company stock worth $258,732. 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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