Nomura Asset Management Co. Ltd. raised its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,100 shares of the real estate investment trust’s stock after purchasing an additional 3,300 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Apple Hospitality REIT were worth $2,380,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in APLE. Long Pond Capital LP acquired a new stake in Apple Hospitality REIT during the 1st quarter valued at $64,798,000. Prudential Financial Inc. lifted its holdings in Apple Hospitality REIT by 160.8% during the 1st quarter. Prudential Financial Inc. now owns 3,307,448 shares of the real estate investment trust’s stock valued at $58,112,000 after purchasing an additional 2,039,311 shares during the last quarter. Northern Trust Corp lifted its holdings in Apple Hospitality REIT by 71.8% during the 1st quarter. Northern Trust Corp now owns 4,254,934 shares of the real estate investment trust’s stock valued at $74,759,000 after purchasing an additional 1,778,458 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Apple Hospitality REIT by 73.9% during the 1st quarter. Wells Fargo & Company MN now owns 3,294,716 shares of the real estate investment trust’s stock valued at $57,889,000 after purchasing an additional 1,400,124 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Apple Hospitality REIT by 510.0% during the 1st quarter. Nuveen Asset Management LLC now owns 1,283,257 shares of the real estate investment trust’s stock valued at $22,547,000 after purchasing an additional 1,072,898 shares during the last quarter. 56.29% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on APLE shares. Zacks Investment Research raised Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, May 8th. ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, May 18th. Finally, B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.25.
In related news, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was acquired at an average price of $17.33 per share, with a total value of $86,650.00. Following the completion of the purchase, the insider now directly owns 10,098,533 shares in the company, valued at $175,007,576.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Blythe J. Mcgarvie purchased 11,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average cost of $17.32 per share, with a total value of $199,180.00. Following the purchase, the director now owns 9,744 shares of the company’s stock, valued at $168,766.08. The disclosure for this purchase can be found here. Insiders have bought 18,189 shares of company stock valued at $315,810 in the last three months. Insiders own 6.30% of the company’s stock.
APLE opened at $17.65 on Friday. Apple Hospitality REIT Inc has a fifty-two week low of $16.72 and a fifty-two week high of $20.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $3.97 billion, a PE ratio of 10.14, a PEG ratio of 1.99 and a beta of 0.66.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The firm had revenue of $344.70 million for the quarter, compared to analyst estimates of $347.27 million. During the same period in the prior year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. sell-side analysts predict that Apple Hospitality REIT Inc will post 1.73 EPS for the current year.
The company also recently announced a monthly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Thursday, August 2nd were issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.80%. The ex-dividend date was Wednesday, August 1st. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
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 242 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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