Vanguard Group Inc. Has $402.94 Million Stock Holdings in Apple Hospitality REIT, Inc. $APLE

Vanguard Group Inc. decreased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,550,328 shares of the real estate investment trust’s stock after selling 639,812 shares during the quarter. Vanguard Group Inc. owned approximately 0.14% of Apple Hospitality REIT worth $402,939,000 as of its most recent SEC filing.

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

Apple Hospitality REIT Trading Up 2.8%

Shares of NYSE:APLE opened at $12.59 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.06 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $2.97 billion, a PE ratio of 17.01 and a beta of 0.84. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $14.96. The firm has a fifty day moving average price of $12.16 and a 200 day moving average price of $12.07.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.16). The company had revenue of $326.44 million for the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. Analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 7.6%. Apple Hospitality REIT’s dividend payout ratio is presently 129.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APLE shares. Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target on the stock. in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Finally, Barclays initiated coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price target for the company. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.92.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction on Thursday, December 11th. The shares were bought at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the acquisition, the chairman directly owned 710,344 shares in the company, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.10% of the stock is owned by insiders.

About Apple Hospitality REIT

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.