Apple Hospitality REIT Inc (APLE) Position Lowered by Virginia Retirement Systems ET AL
Virginia Retirement Systems ET AL cut its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,807 shares of the real estate investment trust’s stock after selling 9,300 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.10% of Apple Hospitality REIT worth $4,232,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new position in Apple Hospitality REIT in the second quarter worth about $102,000. Public Employees Retirement Association of Colorado boosted its position in Apple Hospitality REIT by 26.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 494 shares during the last quarter. IMS Capital Management purchased a new position in Apple Hospitality REIT in the second quarter worth about $140,000. Finally, Ffcm LLC boosted its position in Apple Hospitality REIT by 353.1% in the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 6,526 shares during the last quarter. 50.87% of the stock is currently owned by institutional investors.
APLE has been the topic of several research reports. BidaskClub cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Robert W. Baird set a $20.00 target price on Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Sunday, October 29th. Canaccord Genuity reaffirmed a “hold” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Apple Hospitality REIT in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $19.67.
In related news, insider Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were purchased at an average price of $19.18 per share, with a total value of $95,900.00. Following the completion of the purchase, the insider now directly owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.30% of the stock is owned by company insiders.
Apple Hospitality REIT Inc (APLE) traded up $0.09 during midday trading on Friday, hitting $19.48. The stock had a trading volume of 1,610,000 shares, compared to its average volume of 1,029,036. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. Apple Hospitality REIT Inc has a 1 year low of $17.49 and a 1 year high of $20.68. The company has a market capitalization of $4,320.00 and a P/E ratio of 11.06.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 7.19% and a net margin of 19.33%. The firm had revenue of $324.90 million for the quarter, compared to the consensus estimate of $324.66 million. During the same quarter last year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. analysts forecast that Apple Hospitality REIT Inc will post 1.73 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, December 4th will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Friday, December 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 118.81%.
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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 October 23, 2017, the Company owned 238 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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