Flinton Capital Management LLC cut its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 25.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,670 shares of the real estate investment trust’s stock after selling 8,908 shares during the quarter. Flinton Capital Management LLC’s holdings in Apple Hospitality REIT were worth $480,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of APLE. Schroder Investment Management Group bought a new stake in shares of Apple Hospitality REIT in the second quarter worth about $102,000. Mutual of America Capital Management LLC bought a new stake in shares of Apple Hospitality REIT in the first quarter worth about $125,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Apple Hospitality REIT by 26.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,393 shares during the last quarter. IMS Capital Management bought a new stake in shares of Apple Hospitality REIT in the second quarter worth about $140,000. Finally, Ffcm LLC increased its holdings in shares of Apple Hospitality REIT by 353.1% in the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 6,526 shares during the last quarter. 49.18% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on APLE shares. BidaskClub raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Robert W. Baird reissued an “outperform” rating and set a $21.00 price objective on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. Canaccord Genuity reissued a “hold” rating and set a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. Finally, Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
In other news, Director Redd Hugh purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $17.96 per share, for a total transaction of $35,920.00. Following the acquisition, the director now directly owns 59,495 shares of the company’s stock, valued at $1,068,530.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Glade M. Knight purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $17.62 per share, with a total value of $352,400.00. Following the acquisition, the chairman now directly owns 10,041,357 shares in the company, valued at $176,928,710.34. The disclosure for this purchase can be found here. Insiders have bought a total of 45,000 shares of company stock valued at $794,950 in the last 90 days. Insiders own 6.30% of the company’s stock.
Apple Hospitality REIT, Inc. (NYSE:APLE) opened at 18.95 on Wednesday. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 23.00 and a beta of 0.61. The firm’s 50 day moving average price is $18.50 and its 200 day moving average price is $18.67. Apple Hospitality REIT, Inc. has a 12 month low of $17.32 and a 12 month high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). The firm had revenue of $331.70 million for the quarter, compared to analyst estimates of $335.94 million. Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 EPS. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post $1.03 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.33%. Apple Hospitality REIT’s dividend payout ratio is currently 150.00%.
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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 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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