Bank of Montreal Can increased its position in Apple Hospitality REIT Inc (NYSE:APLE) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,343 shares of the real estate investment trust’s stock after purchasing an additional 11,853 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Apple Hospitality REIT worth $3,431,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APLE. Schroder Investment Management Group lifted its stake in shares of Apple Hospitality REIT by 175.0% in the 2nd quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock valued at $75,683,000 after purchasing an additional 3,036,672 shares during the period. BlackRock Inc. lifted its stake in shares of Apple Hospitality REIT by 6.5% in the 1st quarter. BlackRock Inc. now owns 17,555,764 shares of the real estate investment trust’s stock valued at $286,160,000 after purchasing an additional 1,063,975 shares during the period. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Apple Hospitality REIT by 513.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 695,528 shares of the real estate investment trust’s stock valued at $11,336,000 after purchasing an additional 582,110 shares during the period. Great Lakes Advisors LLC purchased a new position in shares of Apple Hospitality REIT in the 1st quarter valued at approximately $9,062,000. Finally, Prudential Financial Inc. lifted its stake in shares of Apple Hospitality REIT by 8.4% in the 2nd quarter. Prudential Financial Inc. now owns 4,786,671 shares of the real estate investment trust’s stock valued at $75,917,000 after purchasing an additional 369,771 shares during the period. Institutional investors own 59.18% of the company’s stock.
APLE has been the subject of a number of research analyst reports. Capital One Financial initiated coverage on Apple Hospitality REIT in a research note on Tuesday, June 25th. They issued an “equal weight” rating and a $17.00 target price for the company. Barclays upgraded Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 target price for the company in a research note on Monday, August 12th. Finally, Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Apple Hospitality REIT has an average rating of “Hold” and a consensus target price of $18.25.
In related news, Chairman Jirka Rysavy acquired 105,879 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $7.14 per share, for a total transaction of $755,976.06. Also, Director Redd Hugh acquired 2,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.55 per share, with a total value of $31,100.00. Following the purchase, the director now directly owns 95,154 shares of the company’s stock, valued at approximately $1,479,644.70. The disclosure for this purchase can be found here. Insiders have acquired 112,879 shares of company stock valued at $864,026 in the last quarter. 6.50% of the stock is owned by company insiders.
Shares of NYSE:APLE opened at $16.50 on Thursday. The stock has a fifty day simple moving average of $15.68 and a two-hundred day simple moving average of $16.04. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 9.59, a PEG ratio of 1.99 and a beta of 0.80. Apple Hospitality REIT Inc has a 12-month low of $13.81 and a 12-month high of $17.80. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.05.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. The business had revenue of $341.12 million during the quarter, compared to analysts’ expectations of $340.44 million. Apple Hospitality REIT had a return on equity of 5.75% and a net margin of 15.44%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 earnings per share. As a group, equities research analysts predict that Apple Hospitality REIT Inc will post 1.65 EPS for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.27%. The ex-dividend date is Friday, August 30th. Apple Hospitality REIT’s payout ratio is 69.77%.
Apple Hospitality REIT Company 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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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