Teachers Insurance & Annuity Association of America Continues to Hold Position in Apple Hospitality REIT, Inc. (APLE)
Teachers Insurance & Annuity Association of America continued to hold its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the third quarter, Holdings Channel reports. The firm owned 178,441 shares of the company’s stock at the end of the third quarter. Teachers Insurance & Annuity Association of America’s holdings in Apple Hospitality REIT were worth $3,303,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in APLE. Daiwa Securities Group Inc. boosted its stake in Apple Hospitality REIT by 1.8% in the second quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock worth $105,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. acquired a new stake in Apple Hospitality REIT during the second quarter worth $127,000. MSI Financial Services Inc boosted its stake in Apple Hospitality REIT by 213.0% in the third quarter. MSI Financial Services Inc now owns 7,337 shares of the company’s stock worth $136,000 after buying an additional 4,993 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apple Hospitality REIT by 7.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,927 shares of the company’s stock worth $165,000 after buying an additional 587 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Apple Hospitality REIT during the third quarter worth $190,000. 40.27% of the stock is currently owned by institutional investors and hedge funds.
Apple Hospitality REIT, Inc. (NYSE:APLE) traded down 0.10% during trading on Friday, hitting $20.12. The company’s stock had a trading volume of 300,762 shares. Apple Hospitality REIT, Inc. has a one year low of $16.35 and a one year high of $20.65. The company has a 50-day moving average of $19.62 and a 200 day moving average of $19.06. The firm has a market cap of $4.49 billion, a PE ratio of 42.09 and a beta of 0.68.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Apple Hospitality REIT had a net margin of 8.78% and a return on equity of 2.98%. The company earned $276.50 million during the quarter, compared to the consensus estimate of $16.75 million. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that Apple Hospitality REIT, Inc. will post $0.74 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 29th. This represents a $1.20 annualized dividend and a yield of 5.96%. Apple Hospitality REIT’s dividend payout ratio is presently 250.01%.
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A number of brokerages recently issued reports on APLE. Zacks Investment Research lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Friday, November 11th. Canaccord Genuity restated a “buy” rating and issued a $22.00 target price on shares of Apple Hospitality REIT in a research note on Wednesday, January 4th. FBR & Co restated a “hold” rating and issued a $20.00 target price on shares of Apple Hospitality REIT in a research note on Wednesday, November 9th. Finally, Robert W. Baird upgraded Apple Hospitality REIT from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $19.00 to $20.00 in a research note on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Apple Hospitality REIT presently has a consensus rating of “Hold” and an average target price of $19.60.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 2,825 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was acquired at an average price of $17.55 per share, for a total transaction of $49,578.75. Following the completion of the purchase, the insider now owns 10,001,882 shares of the company’s stock, valued at $175,533,029.10. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Redd Hugh bought 3,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were acquired at an average price of $17.53 per share, with a total value of $52,590.00. Following the purchase, the director now directly owns 36,323 shares of the company’s stock, valued at approximately $636,742.19. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by company insiders.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-advised real estate investment trust (REIT) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company owns hotel properties throughout the United States. The Company owns approximately 180 hotels operating in over 30 states with an aggregate of approximately 22,960 rooms.
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