Apple Hospitality REIT, Inc. $APLE Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 32.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 976,438 shares of the real estate investment trust’s stock after selling 476,146 shares during the period. Allianz Asset Management GmbH owned approximately 0.41% of Apple Hospitality REIT worth $11,395,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Apple Hospitality REIT by 14.9% in the 2nd quarter. Signaturefd LLC now owns 7,058 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 913 shares during the period. Isthmus Partners LLC grew its position in Apple Hospitality REIT by 0.5% in the 1st quarter. Isthmus Partners LLC now owns 200,823 shares of the real estate investment trust’s stock valued at $2,593,000 after buying an additional 919 shares in the last quarter. Versor Investments LP grew its position in Apple Hospitality REIT by 3.6% in the 1st quarter. Versor Investments LP now owns 29,000 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 1,000 shares in the last quarter. Xponance Inc. grew its position in Apple Hospitality REIT by 6.4% in the 1st quarter. Xponance Inc. now owns 17,385 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 1,044 shares in the last quarter. Finally, PharVision Advisers LLC grew its position in Apple Hospitality REIT by 8.0% in the 1st quarter. PharVision Advisers LLC now owns 14,263 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Insider Activity at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the acquisition, the chairman directly owned 705,344 shares in the company, valued at $8,668,677.76. This represents a 0.71% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 7.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

APLE has been the subject of a number of recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price for the company. Robert W. Baird decreased their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $11.60 on Wednesday. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. 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 company has a 50-day moving average of $12.29 and a 200-day moving average of $11.99. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 15.46 and a beta of 1.02.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 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 company had revenue of $384.37 million during the quarter, compared to analysts’ expectations of $381.37 million. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

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 issued a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Friday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 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.