Schwab Charles Investment Management Inc. increased its position in Apple Hospitality REIT (NYSE:APLE) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,494,474 shares of the real estate investment trust’s stock after acquiring an additional 166,601 shares during the period. Schwab Charles Investment Management Inc. owned approximately 1.08% of Apple Hospitality REIT worth $43,828,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in APLE. US Bancorp DE increased its holdings in shares of Apple Hospitality REIT by 132.3% in the 4th 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 during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter worth about $213,000. Public Employees Retirement Association of Colorado increased its stake in Apple Hospitality REIT by 67.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 4,468 shares during the period. Evermay Wealth Management LLC acquired a new position in Apple Hospitality REIT during the 4th quarter valued at about $218,000. Finally, Fox Run Management L.L.C. acquired a new position in Apple Hospitality REIT during the 4th quarter valued at about $298,000. 55.83% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. TheStreet raised shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, May 18th. Zacks Investment Research cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “hold” rating in a research note on Tuesday, May 8th. ValuEngine cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Barclays reissued 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 note on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $20.00.
Apple Hospitality REIT stock opened at $18.65 on Wednesday. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 2.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06. Apple Hospitality REIT has a 52 week low of $16.72 and a 52 week high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.21). The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $299.89 million. Apple Hospitality REIT had a net margin of 15.30% and a return on equity of 5.38%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. research analysts forecast that Apple Hospitality REIT will post 1.75 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 18th. Stockholders of record on Monday, June 4th will be paid a $0.10 dividend. The ex-dividend date is Friday, June 1st. This represents a $1.20 annualized dividend and a dividend yield of 6.43%. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,800 shares of the stock in a transaction dated Wednesday, February 28th. The shares were bought at an average price of $17.10 per share, with a total value of $99,180.00. Following the purchase, the chairman now directly owns 10,052,157 shares of the company’s stock, valued at approximately $171,891,884.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Glade M. Knight acquired 10,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was acquired at an average cost of $17.16 per share, for a total transaction of $171,600.00. The disclosure for this purchase can be found here. Insiders bought a total of 38,504 shares of company stock worth $665,862 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.
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