UBS Asset Management Americas Inc. Has $8.94 Million Stake in Apple Hospitality REIT, Inc. (APLE)
UBS Asset Management Americas Inc. grew its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 477,704 shares of the real estate investment trust’s stock after acquiring an additional 54,511 shares during the period. UBS Asset Management Americas Inc. owned about 0.21% of Apple Hospitality REIT worth $8,938,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Schroder Investment Management Group purchased a new stake in shares of Apple Hospitality REIT in the second quarter valued at about $102,000. Mutual of America Capital Management LLC purchased a new stake in shares of Apple Hospitality REIT in the first quarter valued at about $125,000. Public Employees Retirement Association of Colorado boosted its holdings in shares of 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 valued at $124,000 after acquiring an additional 1,393 shares in the last quarter. IMS Capital Management purchased a new stake in shares of Apple Hospitality REIT in the second quarter valued at about $140,000. Finally, Ffcm LLC boosted its holdings in shares of 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 valued at $159,000 after acquiring an additional 6,526 shares in the last quarter. 49.18% of the stock is currently owned by institutional investors and hedge funds.
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In related news, Director Redd Hugh bought 2,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $17.96 per share, with a total value of $35,920.00. Following the purchase, the director now owns 59,495 shares in the company, valued at $1,068,530.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Glade M. Knight bought 20,000 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $17.62 per share, for a total transaction of $352,400.00. Following the purchase, the chairman now owns 10,041,357 shares in the company, valued at approximately $176,928,710.34. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 45,000 shares of company stock worth $794,950. 6.30% of the stock is owned by corporate insiders.
Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) opened at 18.92 on Friday. Apple Hospitality REIT, Inc. has a 12-month low of $17.32 and a 12-month high of $20.68. The company’s 50-day moving average is $18.42 and its 200-day moving average is $18.67. The stock has a market cap of $4.22 billion, a P/E ratio of 22.96 and a beta of 0.61.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The company had revenue of $331.70 million for the quarter, compared to analyst estimates of $335.94 million. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 EPS. On average, analysts expect that Apple Hospitality REIT, Inc. will post $1.03 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.20 annualized dividend and a yield of 6.34%. Apple Hospitality REIT’s payout ratio is 150.00%.
Several analysts have recently weighed in on the stock. Canaccord Genuity reaffirmed a “hold” rating and issued a $19.00 target price (down previously from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. BidaskClub downgraded shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Robert W. Baird reissued an “outperform” rating and set a $21.00 price objective on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $20.00.
Apple Hospitality REIT Profile
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 September 13, 2017, the Company owned 237 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 33 states.
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