Aperio Group LLC Sells 10,114 Shares of Apple Hospitality REIT, Inc. (APLE)
Aperio Group LLC decreased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 13.9% during the second quarter, Holdings Channel reports. The fund owned 62,642 shares of the real estate investment trust’s stock after selling 10,114 shares during the period. Aperio Group LLC’s holdings in Apple Hospitality REIT were worth $1,172,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can raised its position in Apple Hospitality REIT by 5.2% in the first quarter. Great West Life Assurance Co. Can now owns 95,171 shares of the real estate investment trust’s stock valued at $1,816,000 after buying an additional 4,725 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Apple Hospitality REIT by 0.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,820 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 197 shares in the last quarter. Brookstone Capital Management raised its position in Apple Hospitality REIT by 111.0% in the first quarter. Brookstone Capital Management now owns 29,233 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 15,379 shares in the last quarter. Wells Fargo & Company MN raised its position in Apple Hospitality REIT by 38.0% in the first 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 buying an additional 690,453 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new position in Apple Hospitality REIT during the first quarter valued at about $208,000. Institutional investors and hedge funds own 47.90% of the company’s stock.
Apple Hospitality REIT, Inc. (NYSE:APLE) traded down 1.06% on Tuesday, reaching $17.78. The company had a trading volume of 251,891 shares. The stock has a market capitalization of $3.97 billion, a P/E ratio of 21.58 and a beta of 0.60. The stock’s 50 day moving average is $18.42 and its 200-day moving average is $19.01. Apple Hospitality REIT, Inc. has a 1-year low of $17.32 and a 1-year high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the 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 period in the previous year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, equities analysts predict that Apple Hospitality REIT, Inc. will post $0.98 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, August 3rd will be issued a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Tuesday, August 1st. Apple Hospitality REIT’s payout ratio is currently 150.00%.
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Several equities research analysts recently commented on APLE shares. FBR & Co reiterated a “hold” rating on shares of Apple Hospitality REIT in a report on Saturday, May 6th. Canaccord Genuity reiterated a “hold” rating and issued a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a report on Friday. BidaskClub downgraded Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Wells Fargo & Company started coverage on Apple Hospitality REIT in a research note on Wednesday, May 3rd. They set a “market perform” rating for the company. Finally, Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Apple Hospitality REIT has an average rating of “Hold” and a consensus price target of $19.20.
In other Apple Hospitality REIT news, insider Justin G. Knight bought 5,400 shares of Apple Hospitality REIT stock in a transaction on Tuesday, June 6th. The shares were bought at an average price of $18.64 per share, for a total transaction of $100,656.00. Following the completion of the transaction, the insider now directly owns 1,005,274 shares of the company’s stock, valued at $18,738,307.36. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Glade M. Knight bought 20,000 shares of Apple Hospitality REIT stock in a transaction on 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 transaction, the chairman now directly owns 10,041,357 shares of the company’s stock, valued at $176,928,710.34. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 48,800 shares of company stock worth $873,082. 6.40% of the stock is owned by corporate insiders.
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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