First Trust Advisors LP Decreases Stake in Apple Hospitality REIT Inc (NYSE:APLE)
First Trust Advisors LP reduced its stake in Apple Hospitality REIT Inc (NYSE:APLE) by 23.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 817,273 shares of the real estate investment trust’s stock after selling 244,033 shares during the quarter. First Trust Advisors LP owned about 0.37% of Apple Hospitality REIT worth $7,494,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new position in Apple Hospitality REIT in the 4th quarter worth approximately $3,827,000. Advisory Services Network LLC increased its holdings in Apple Hospitality REIT by 1,447.3% in the 4th quarter. Advisory Services Network LLC now owns 2,321 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 2,171 shares during the period. AJO LP increased its holdings in Apple Hospitality REIT by 70.2% in the 4th quarter. AJO LP now owns 4,054 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 1,672 shares during the period. Penserra Capital Management LLC increased its holdings in Apple Hospitality REIT by 32.1% in the 4th quarter. Penserra Capital Management LLC now owns 6,160 shares of the real estate investment trust’s stock worth $92,000 after buying an additional 1,496 shares during the period. Finally, Canandaigua National Bank & Trust Co. acquired a new position in Apple Hospitality REIT in the 1st quarter worth approximately $94,000. 60.08% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $11.90 per share, with a total value of $59,500.00. Following the purchase, the chairman now owns 10,211,968 shares of the company’s stock, valued at $121,522,419.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.50% of the stock is currently owned by company insiders.
Shares of NYSE APLE opened at $9.15 on Friday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 6.71 and a beta of 1.02. Apple Hospitality REIT Inc has a 12 month low of $4.48 and a 12 month high of $16.88. The firm’s 50 day simple moving average is $8.53 and its 200-day simple moving average is $12.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 4.37 and a quick ratio of 0.24.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 18th. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Apple Hospitality REIT had a return on equity of 3.98% and a net margin of 10.91%. The firm had revenue of $238.01 million for the quarter, compared to analyst estimates of $245.39 million. Analysts anticipate that Apple Hospitality REIT Inc will post 0.31 earnings per share for the current fiscal year.
Apple Hospitality REIT Profile
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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