Ken Stern & Associates Inc. boosted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,606 shares of the real estate investment trust’s stock after purchasing an additional 647 shares during the period. Ken Stern & Associates Inc.’s holdings in Apple Hospitality REIT were worth $240,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APLE. BlackRock Inc. lifted its position in Apple Hospitality REIT by 3,420.4% in the first quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock worth $229,099,000 after purchasing an additional 11,653,910 shares during the period. Vanguard Group Inc. lifted its position in Apple Hospitality REIT by 16.5% in the first quarter. Vanguard Group Inc. now owns 32,734,825 shares of the real estate investment trust’s stock worth $625,236,000 after purchasing an additional 4,627,374 shares during the period. Dimensional Fund Advisors LP lifted its position in Apple Hospitality REIT by 155.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock worth $48,531,000 after purchasing an additional 1,547,960 shares during the period. Uniplan Investment Counsel Inc. acquired a new stake in Apple Hospitality REIT in the second quarter worth approximately $10,925,000. Finally, Nuveen Asset Management LLC lifted its position in Apple Hospitality REIT by 66.3% in the first quarter. Nuveen Asset Management LLC now owns 1,126,969 shares of the real estate investment trust’s stock worth $21,525,000 after purchasing an additional 449,135 shares during the period. Hedge funds and other institutional investors own 49.18% of the company’s stock.
Several research analysts have issued reports on the company. BidaskClub cut Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Robert W. Baird reaffirmed an “outperform” rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $19.00 price target (down previously from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $20.75.
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In other Apple Hospitality REIT news, Director Redd Hugh acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, August 28th. The shares were purchased at an average cost of $17.83 per share, with a total value of $89,150.00. Following the completion of the purchase, the director now owns 61,495 shares in the company, valued at $1,096,455.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Glade M. Knight acquired 20,000 shares of Apple Hospitality REIT stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $17.62 per share, for a total transaction of $352,400.00. Following the completion of the purchase, the chairman now owns 10,041,357 shares of the company’s stock, valued at approximately $176,928,710.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 45,000 shares of company stock worth $794,950. Insiders own 6.30% of the company’s stock.
Apple Hospitality REIT, Inc. (APLE) traded up 0.11% on Friday, hitting $18.76. The company’s stock had a trading volume of 4,277,843 shares. The company has a market capitalization of $4.18 billion, a P/E ratio of 22.77 and a beta of 0.60. The company has a 50 day moving average price of $18.15 and a 200-day moving average price of $18.70. Apple Hospitality REIT, Inc. has a 1-year low of $17.32 and a 1-year high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The business had revenue of $331.70 million during the quarter, compared to the consensus estimate of $335.94 million. During the same period in the previous year, the business posted $0.52 earnings per share. Apple Hospitality REIT’s revenue was up 28.7% compared to the same quarter last year. On average, equities analysts forecast that Apple Hospitality REIT, Inc. will post $1.03 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 18th. Shareholders of record on Tuesday, September 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.20 dividend on an annualized basis and a yield of 6.40%. Apple Hospitality REIT’s payout ratio is presently 150.00%.
Apple Hospitality REIT Company 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 December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
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