Teacher Retirement System of Texas raised its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 510.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,815 shares of the real estate investment trust’s stock after buying an additional 86,806 shares during the quarter. Teacher Retirement System of Texas’ holdings in Apple Hospitality REIT were worth $1,963,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in APLE. Principal Financial Group Inc. increased its stake in Apple Hospitality REIT by 10.4% in the 1st quarter. Principal Financial Group Inc. now owns 29,274 shares of the real estate investment trust’s stock valued at $559,000 after buying an additional 2,750 shares during the period. Teachers Advisors LLC increased its stake in Apple Hospitality REIT by 37.4% in the 1st quarter. Teachers Advisors LLC now owns 386,804 shares of the real estate investment trust’s stock valued at $7,388,000 after buying an additional 105,377 shares during the period. Morgan Stanley increased its stake in Apple Hospitality REIT by 31.1% in the 1st quarter. Morgan Stanley now owns 88,526 shares of the real estate investment trust’s stock valued at $1,692,000 after buying an additional 20,987 shares during the period. Paloma Partners Management Co acquired a new position in Apple Hospitality REIT in the 1st quarter valued at approximately $252,000. Finally, Bank of Montreal Can increased its stake in Apple Hospitality REIT by 12.8% in the 2nd quarter. Bank of Montreal Can now owns 84,087 shares of the real estate investment trust’s stock valued at $1,573,000 after buying an additional 9,520 shares during the period. Hedge funds and other institutional investors own 50.44% of the company’s stock.
In other news, insider Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was acquired at an average cost of $19.18 per share, with a total value of $95,900.00. Following the acquisition, the insider now owns 10,046,357 shares in the company, valued at $192,689,127.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is currently owned by corporate insiders.
Shares of Apple Hospitality REIT, Inc. (NYSE APLE) opened at $19.36 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $4,310.00 and a P/E ratio of 11.04. Apple Hospitality REIT, Inc. has a 1 year low of $17.49 and a 1 year high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $324.90 million during the quarter, compared to the consensus estimate of $324.66 million. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. sell-side analysts predict that Apple Hospitality REIT, Inc. will post 1.73 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd were given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Thursday, November 2nd. Apple Hospitality REIT’s dividend payout ratio is 118.81%.
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APLE has been the topic of several research reports. BidaskClub lowered shares of Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. Robert W. Baird set a $20.00 price objective on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research note on Sunday, October 29th. Canaccord Genuity reissued a “hold” rating and issued a $19.00 target price (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Finally, B. Riley reissued a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.67.
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 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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