Parallel Advisors LLC cut its stake in Apple Hospitality REIT Inc (NYSE:APLE) by 16.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,523 shares of the real estate investment trust’s stock after selling 2,286 shares during the period. Parallel Advisors LLC’s holdings in Apple Hospitality REIT were worth $183,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of APLE. Penserra Capital Management LLC acquired a new position in shares of Apple Hospitality REIT in the 1st quarter worth approximately $37,000. AGF Investments LLC raised its holdings in shares of Apple Hospitality REIT by 72.9% in the 2nd quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 1,042 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Apple Hospitality REIT by 353.3% in the 1st quarter. Quadrant Capital Group LLC now owns 3,400 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 2,650 shares in the last quarter. Enterprise Financial Services Corp raised its holdings in shares of Apple Hospitality REIT by 1,255.2% in the 1st quarter. Enterprise Financial Services Corp now owns 3,930 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 3,640 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Apple Hospitality REIT by 18.1% in the 2nd quarter. Signaturefd LLC now owns 5,953 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 912 shares in the last quarter. 59.05% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on APLE shares. Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, August 12th. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday. Capital One Financial started coverage on Apple Hospitality REIT in a report on Tuesday, June 25th. They set an “equal weight” rating and a $17.00 price target for the company. Finally, ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.25.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. Apple Hospitality REIT had a return on equity of 5.75% and a net margin of 15.44%. The firm had revenue of $341.12 million during the quarter, compared to analysts’ expectations of $340.44 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts expect that Apple Hospitality REIT Inc will post 1.65 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $1.20 dividend on an annualized basis and a yield of 7.74%. Apple Hospitality REIT’s dividend payout ratio is 69.77%.
In other news, Director Redd Hugh acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the transaction, the director now owns 92,154 shares of the company’s stock, valued at $1,463,405.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was purchased at an average price of $15.39 per share, for a total transaction of $76,950.00. Following the completion of the transaction, the insider now directly owns 10,133,812 shares in the company, valued at approximately $155,959,366.68. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,000 shares of company stock valued at $139,810 over the last ninety days. Insiders own 6.50% 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 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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