Apple Hospitality REIT, Inc. $APLE Stock Holdings Lessened by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 32.8% in the second quarter, Holdings Channel.com reports. The firm owned 976,438 shares of the real estate investment trust’s stock after selling 476,146 shares during the quarter. Allianz Asset Management GmbH’s holdings in Apple Hospitality REIT were worth $11,395,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Apple Hospitality REIT by 2.7% in the first quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust’s stock worth $14,350,000 after purchasing an additional 28,778 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Apple Hospitality REIT by 24.8% in the first quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust’s stock worth $6,214,000 after purchasing an additional 95,606 shares in the last quarter. KBC Group NV lifted its position in shares of Apple Hospitality REIT by 29.9% in the first quarter. KBC Group NV now owns 12,025 shares of the real estate investment trust’s stock worth $155,000 after purchasing an additional 2,768 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Apple Hospitality REIT in the first quarter worth approximately $6,254,000. Finally, Public Sector Pension Investment Board lifted its position in shares of Apple Hospitality REIT by 48.8% in the first quarter. Public Sector Pension Investment Board now owns 826,924 shares of the real estate investment trust’s stock worth $10,676,000 after purchasing an additional 271,023 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $12.29 per share, with a total value of $61,450.00. Following the completion of the transaction, the chairman owned 705,344 shares of the company’s stock, valued at $8,668,677.76. The trade was a 0.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on APLE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, October 8th. Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Wells Fargo & Company raised shares of Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Apple Hospitality REIT Trading Down 0.6%

NYSE:APLE opened at $11.60 on Wednesday. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 15.46 and a beta of 1.02. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $12.29 and its 200-day moving average is $11.99.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The company had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. Equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 128.00%.

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.