First Republic Investment Management Inc. lessened its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 12.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,218 shares of the real estate investment trust’s stock after selling 3,563 shares during the quarter. First Republic Investment Management Inc.’s holdings in Apple Hospitality REIT were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. US Bancorp DE boosted its stake in Apple Hospitality REIT by 132.3% during the fourth quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock worth $107,000 after acquiring an additional 3,120 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after buying an additional 494 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Apple Hospitality REIT by 67.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 4,468 shares during the last quarter. Evermay Wealth Management LLC purchased a new position in Apple Hospitality REIT in the fourth quarter worth about $218,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $298,000. 54.51% of the stock is currently owned by institutional investors and hedge funds.
Apple Hospitality REIT Inc (NYSE:APLE) traded up $0.01 during trading hours on Wednesday, hitting $17.39. 1,016,959 shares of the stock were exchanged, compared to its average volume of 1,558,581. Apple Hospitality REIT Inc has a twelve month low of $16.72 and a twelve month high of $20.19. The company has a market cap of $3,870.00 and a PE ratio of 21.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.13.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Apple Hospitality REIT had a net margin of 14.73% and a return on equity of 5.19%. The company had revenue of $289.07 million during the quarter, compared to analysts’ expectations of $288.75 million. During the same period last year, the business earned $0.37 EPS. Apple Hospitality REIT’s revenue for the quarter was up 2.4% on a year-over-year basis. equities analysts expect that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date is Thursday, March 1st. Apple Hospitality REIT’s dividend payout ratio is presently 146.34%.
A number of analysts have commented on APLE shares. B. Riley set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “hold” rating in a research report on Friday, February 23rd. Barclays restated an “equal weight” rating and set a $20.00 target price (down previously from $21.00) on shares of Apple Hospitality REIT in a research report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. KeyCorp assumed coverage on shares of Apple Hospitality REIT in a research note on Friday, January 12th. They set a “sector weight” rating on the stock. Finally, TheStreet raised shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $20.20.
In related news, Director Redd Hugh acquired 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, March 2nd. The shares were purchased at an average cost of $16.89 per share, for a total transaction of $84,450.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Glade M. Knight purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were acquired at an average price of $17.16 per share, for a total transaction of $171,600.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 26,391 shares of company stock valued at $449,768. Insiders own 6.30% of the company’s stock.
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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 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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