Nisa Investment Advisors LLC Cuts Holdings in Apple Hospitality REIT, Inc. $APLE

Nisa Investment Advisors LLC cut its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,940 shares of the real estate investment trust’s stock after selling 12,970 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Apple Hospitality REIT were worth $693,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Apple Hospitality REIT by 1.3% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the real estate investment trust’s stock worth $2,849,000 after purchasing an additional 3,048 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in 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 purchasing an additional 2,280 shares during the last quarter. Ethic Inc. purchased a new position in Apple Hospitality REIT during the second quarter worth about $130,000. Aurora Investment Counsel boosted its holdings in Apple Hospitality REIT by 36.1% during the second quarter. Aurora Investment Counsel now owns 135,520 shares of the real estate investment trust’s stock worth $1,582,000 after purchasing an additional 35,950 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Apple Hospitality REIT during the second quarter worth about $4,785,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Cantor Fitzgerald assumed coverage on shares of Apple Hospitality REIT in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the purchase, the chairman directly owned 705,344 shares of the company’s stock, valued at $8,668,677.76. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is owned by corporate insiders.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $11.19 on Friday. The stock has a market capitalization of $2.65 billion, a P/E ratio of 14.91 and a beta of 1.02. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average is $12.15 and its 200 day moving average is $12.00. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The business had revenue of $384.37 million for the quarter, compared to analysts’ expectations of $381.37 million. On average, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a yield of 8.6%. Apple Hospitality REIT’s dividend payout ratio is currently 128.00%.

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, 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.