Ameriprise Financial Inc. reduced its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,103 shares of the real estate investment trust’s stock after selling 224 shares during the period. Ameriprise Financial Inc.’s holdings in Apple Hospitality REIT were worth $212,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Apple Hospitality REIT by 64.7% in the first quarter. Sei Investments Co. now owns 290,234 shares of the real estate investment trust’s stock worth $5,543,000 after buying an additional 114,008 shares during the period. Karp Capital Management Corp bought a new stake in Apple Hospitality REIT during the first quarter worth approximately $1,390,000. HGK Asset Management Inc. boosted its stake in Apple Hospitality REIT by 10.2% in the first quarter. HGK Asset Management Inc. now owns 27,587 shares of the real estate investment trust’s stock worth $527,000 after buying an additional 2,553 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Apple Hospitality REIT by 28.9% in the first quarter. UBS Asset Management Americas Inc. now owns 423,193 shares of the real estate investment trust’s stock worth $8,083,000 after buying an additional 94,974 shares during the period. Finally, Swiss National Bank boosted its stake in Apple Hospitality REIT by 28.2% in the first quarter. Swiss National Bank now owns 349,710 shares of the real estate investment trust’s stock worth $6,679,000 after buying an additional 76,900 shares during the period. Institutional investors own 47.64% of the company’s stock.
Apple Hospitality REIT, Inc. (APLE) opened at 17.88 on Friday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 21.70 and a beta of 0.60. The stock’s 50 day moving average is $18.45 and its 200 day moving average is $19.05. Apple Hospitality REIT, Inc. has a 12-month low of $17.32 and a 12-month high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $335.94 million. Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post $0.98 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 given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend is Tuesday, August 1st. Apple Hospitality REIT’s dividend payout ratio is currently 150.00%.
A number of analysts recently commented on the stock. Canaccord Genuity lowered their target price on shares of Apple Hospitality REIT from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Friday. BidaskClub raised shares of Apple Hospitality REIT from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Robert W. Baird reissued an “outperform” rating and set a $21.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, July 4th. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. Finally, FBR & Co reissued a “hold” rating on shares of Apple Hospitality REIT in a research report on Saturday, May 6th. Two investment 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 company currently has an average rating of “Hold” and an average price target of $19.20.
In other news, Chairman Glade M. Knight purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $17.62 per share, for a total transaction of $352,400.00. Following the completion of the transaction, the chairman now directly owns 10,041,357 shares in the company, valued at approximately $176,928,710.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Glade M. Knight purchased 5,400 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was purchased at an average price of $18.99 per share, with a total value of $102,546.00. Following the transaction, the insider now owns 10,021,357 shares of the company’s stock, valued at $190,305,569.43. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 47,800 shares of company stock valued at $855,142. Company insiders own 6.40% of the company’s stock.
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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