Commonwealth Bank of Australia raised its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 70.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,193 shares of the real estate investment trust’s stock after buying an additional 3,793 shares during the quarter. Commonwealth Bank of Australia’s holdings in Apple Hospitality REIT were worth $164,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Long Pond Capital LP purchased a new position in shares of Apple Hospitality REIT in the first quarter worth $64,798,000. Northern Trust Corp raised its stake in shares of Apple Hospitality REIT by 71.8% in the first quarter. Northern Trust Corp now owns 4,254,934 shares of the real estate investment trust’s stock worth $74,759,000 after purchasing an additional 1,778,458 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Apple Hospitality REIT by 73.9% in the first quarter. Wells Fargo & Company MN now owns 3,294,716 shares of the real estate investment trust’s stock worth $57,889,000 after purchasing an additional 1,400,124 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Apple Hospitality REIT by 510.0% in the first quarter. Nuveen Asset Management LLC now owns 1,283,257 shares of the real estate investment trust’s stock worth $22,547,000 after purchasing an additional 1,072,898 shares during the last quarter. Finally, LSV Asset Management purchased a new position in shares of Apple Hospitality REIT in the second quarter worth $17,534,000. Hedge funds and other institutional investors own 56.54% of the company’s stock.
In other 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 bought at an average cost of $17.33 per share, with a total value of $86,650.00. Following the completion of the purchase, the insider now owns 10,098,533 shares in the company, valued at $175,007,576.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blythe J. Mcgarvie purchased 11,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $17.32 per share, with a total value of $199,180.00. Following the completion of the purchase, the director now owns 9,744 shares of the company’s stock, valued at approximately $168,766.08. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 33,657 shares of company stock valued at $588,035. Corporate insiders own 6.30% of the company’s stock.
NYSE:APLE traded down $0.03 during mid-day trading on Friday, hitting $16.98. 1,122,288 shares of the company traded hands, compared to its average volume of 1,293,711. Apple Hospitality REIT Inc has a one year low of $16.72 and a one year high of $20.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market capitalization of $4.03 billion, a PE ratio of 9.76, a P/E/G ratio of 2.02 and a beta of 0.64.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). The business had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. Equities analysts forecast that Apple Hospitality REIT Inc will post 1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 15th. Stockholders of record on Wednesday, October 3rd will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend is Tuesday, October 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is 68.97%.
Several research firms have recently weighed in on APLE. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. B. Riley upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, August 8th. Finally, ValuEngine cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $20.25.
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 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
Read More: Diversification For Individual Investors
Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.