QRG Capital Management Inc. Sells 54,953 Shares of Apple Hospitality REIT, Inc. $APLE

QRG Capital Management Inc. trimmed its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 33.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 107,506 shares of the real estate investment trust’s stock after selling 54,953 shares during the quarter. QRG Capital Management Inc.’s holdings in Apple Hospitality REIT were worth $1,291,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Centerbridge Partners L.P. acquired a new position in Apple Hospitality REIT in the second quarter valued at about $22,147,000. Norges Bank acquired a new position in shares of Apple Hospitality REIT in the 2nd quarter valued at approximately $15,614,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Apple Hospitality REIT by 285.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after acquiring an additional 1,000,214 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Apple Hospitality REIT by 493.1% during the 2nd quarter. Edgestream Partners L.P. now owns 982,159 shares of the real estate investment trust’s stock worth $11,462,000 after acquiring an additional 816,574 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Apple Hospitality REIT by 42.6% during the 2nd quarter. Bank of America Corp DE now owns 1,904,629 shares of the real estate investment trust’s stock worth $22,227,000 after acquiring an additional 569,109 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on APLE. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Barclays started coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective for the company. Cantor Fitzgerald initiated coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price on the stock. Wells Fargo & Company raised Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Finally, Robert W. Baird reduced their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.92.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $12.20 on Wednesday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.89 billion, a PE ratio of 16.71 and a beta of 0.85. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.01. The business has a 50-day simple moving average of $11.98 and a two-hundred day simple moving average of $12.08.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Apple Hospitality REIT had a return on equity of 5.46% and a net margin of 12.37%.The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th will be given a $0.08 dividend. This represents a c) annualized dividend and a yield of 7.9%. The ex-dividend date is Friday, January 30th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was purchased at an average price of $11.91 per share, with a total value of $59,550.00. Following the completion of the purchase, the chairman owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have purchased 8,000 shares of company stock valued at $95,180. Corporate insiders own 7.10% of the company’s stock.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.