Teachers Insurance & Annuity Association of America lowered its stake in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 62.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,058 shares of the real estate investment trust’s stock after selling 125,465 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Apple Hospitality REIT were worth $1,206,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in Apple Hospitality REIT during the first quarter worth about $37,000. AGF Investments LLC boosted its position in Apple Hospitality REIT by 72.9% during the second quarter. AGF Investments LLC now owns 2,471 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 1,042 shares during the last quarter. Altshuler Shaham Ltd boosted its position in Apple Hospitality REIT by 116.5% during the second quarter. Altshuler Shaham Ltd now owns 5,705 shares of the real estate investment trust’s stock worth $90,000 after acquiring an additional 3,070 shares during the last quarter. Signaturefd LLC boosted its position in Apple Hospitality REIT by 18.1% during the second quarter. Signaturefd LLC now owns 5,953 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 912 shares during the last quarter. Finally, NumerixS Investment Technologies Inc boosted its position in Apple Hospitality REIT by 840.0% during the first quarter. NumerixS Investment Technologies Inc now owns 9,400 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 8,400 shares during the last quarter. 59.18% of the stock is owned by institutional investors and hedge funds.
NYSE:APLE traded down $0.17 on Thursday, hitting $16.33. The stock had a trading volume of 809,733 shares, compared to its average volume of 1,174,151. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.99 and a beta of 0.80. The company has a fifty day moving average price of $15.68 and a two-hundred day moving average price of $16.04. Apple Hospitality REIT Inc has a 1-year low of $13.81 and a 1-year high of $17.80.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $341.12 million for the quarter, compared to analyst estimates of $340.44 million. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. Apple Hospitality REIT’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. As a group, analysts anticipate that Apple Hospitality REIT Inc will post 1.65 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.10 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.20 annualized dividend and a yield of 7.35%. Apple Hospitality REIT’s payout ratio is 69.77%.
In related news, Chairman Jirka Rysavy acquired 105,879 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $755,976.06. Also, Director Redd Hugh acquired 2,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.55 per share, for a total transaction of $31,100.00. Following the completion of the acquisition, the director now owns 95,154 shares in the company, valued at approximately $1,479,644.70. The disclosure for this purchase can be found here. Insiders acquired a total of 112,879 shares of company stock worth $864,026 over the last quarter. 6.50% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on APLE. Zacks Investment Research lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday. Capital One Financial began coverage on shares of Apple Hospitality REIT in a research report on Tuesday, June 25th. They set an “equal weight” rating and a $17.00 price target on the stock. Finally, Barclays upgraded shares of Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.25.
Apple Hospitality REIT 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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