Intech Investment Management LLC Sells 44,635 Shares of Apple Hospitality REIT, Inc. $APLE

Intech Investment Management LLC decreased its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 28.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,654 shares of the real estate investment trust’s stock after selling 44,635 shares during the period. Intech Investment Management LLC’s holdings in Apple Hospitality REIT were worth $1,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Apple Hospitality REIT by 12,230.0% in the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,446 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Apple Hospitality REIT by 444.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,280 shares in the last quarter. Kestra Investment Management LLC bought a new position in Apple Hospitality REIT during the 1st quarter worth about $57,000. Finally, Security National Bank bought a new stake in shares of Apple Hospitality REIT in the second quarter valued at about $60,000. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Up 3.7%

Shares of APLE opened at $11.75 on Monday. The stock has a fifty day moving average of $11.76 and a 200-day moving average of $11.99. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 15.67 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The company had revenue of $373.88 million for the quarter, compared to analysts’ expectations of $371.94 million. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) annualized dividend and a dividend yield of 8.2%. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday, October 30th. Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a research report on Tuesday, November 4th. Cantor Fitzgerald started coverage on Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $14.00 target price on the stock. Robert W. Baird cut their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Finally, Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.70.

Apple Hospitality REIT Company 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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.