PNC Financial Services Group Inc. lifted its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 15.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 30,406 shares of the real estate investment trust’s stock after acquiring an additional 4,079 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Apple Hospitality REIT were worth $545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Apple Hospitality REIT by 5.6% in the 1st quarter. BlackRock Inc. now owns 15,903,158 shares of the real estate investment trust’s stock worth $279,421,000 after acquiring an additional 844,013 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Apple Hospitality REIT by 71.8% in the 1st quarter. Northern Trust Corp now owns 4,254,934 shares of the real estate investment trust’s stock worth $74,759,000 after acquiring an additional 1,778,458 shares during the last quarter. Long Pond Capital LP bought a new stake in shares of Apple Hospitality REIT in the 1st quarter worth approximately $64,798,000. Dimensional Fund Advisors LP lifted its holdings in shares of Apple Hospitality REIT by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,326,033 shares of the real estate investment trust’s stock worth $59,472,000 after acquiring an additional 129,108 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Apple Hospitality REIT by 73.9% in the 1st quarter. Wells Fargo & Company MN now owns 3,294,716 shares of the real estate investment trust’s stock worth $57,889,000 after acquiring an additional 1,400,124 shares during the last quarter. Hedge funds and other institutional investors own 56.54% of the company’s stock.

Shares of NYSE APLE opened at $17.43 on Monday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.14. Apple Hospitality REIT Inc has a 52 week low of $16.72 and a 52 week high of $20.19. The firm has a market capitalization of $4.01 billion, a P/E ratio of 10.07, a PEG ratio of 2.01 and a beta of 0.64.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, August 6th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The firm had revenue of $344.70 million during the quarter, compared to analysts’ expectations of $347.27 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. analysts anticipate that Apple Hospitality REIT Inc will post 1.73 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Monday, October 15th. Investors of record on Wednesday, October 3rd will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.88%. The ex-dividend date is Tuesday, October 2nd. Apple Hospitality REIT’s payout ratio is 68.97%.

APLE has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. ValuEngine raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, B. Riley raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.25.

In related news, Director Blythe J. Mcgarvie acquired 11,500 shares of Apple Hospitality REIT stock in a transaction on Monday, August 13th. The shares were acquired at an average cost of $17.32 per share, with a total value of $199,180.00. Following the transaction, the director now owns 9,744 shares in the company, valued at $168,766.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Friday, August 10th. The shares were bought at an average cost of $17.33 per share, for a total transaction of $86,650.00. Following the completion of the transaction, the insider now owns 10,098,533 shares in the company, valued at approximately $175,007,576.89. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 33,657 shares of company stock worth $588,035. 6.30% of the stock is owned by insiders.

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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