Goldman Sachs Group Inc. grew its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 47.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,170,705 shares of the real estate investment trust’s stock after purchasing an additional 376,536 shares during the period. Goldman Sachs Group Inc. owned approximately 0.52% of Apple Hospitality REIT worth $22,957,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Global X Management Co. LLC boosted its stake in Apple Hospitality REIT by 21.7% during the fourth quarter. Global X Management Co. LLC now owns 90,763 shares of the real estate investment trust’s stock valued at $1,780,000 after buying an additional 16,175 shares in the last quarter. Aperio Group LLC boosted its stake in Apple Hospitality REIT by 63.0% during the fourth quarter. Aperio Group LLC now owns 200,255 shares of the real estate investment trust’s stock valued at $3,927,000 after buying an additional 77,379 shares in the last quarter. American Century Companies Inc. boosted its stake in Apple Hospitality REIT by 342.0% during the fourth quarter. American Century Companies Inc. now owns 1,271,120 shares of the real estate investment trust’s stock valued at $24,927,000 after buying an additional 983,516 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in Apple Hospitality REIT during the fourth quarter valued at about $3,162,000. Finally, Evermay Wealth Management LLC bought a new position in Apple Hospitality REIT during the fourth quarter valued at about $218,000. 54.49% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on APLE. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Barclays reaffirmed an “equal weight” rating and set a $20.00 target price (down previously from $21.00) on shares of Apple Hospitality REIT in a research note on Tuesday, February 27th. Robert W. Baird set a $20.00 target price on Apple Hospitality REIT and gave the company a “buy” rating in a research note on Monday, February 26th. B. Riley set a $20.00 target price on Apple Hospitality REIT and gave the company a “hold” rating in a research note on Friday, February 23rd. Finally, TheStreet cut Apple Hospitality REIT from a “b” rating to a “c” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $20.20.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. Apple Hospitality REIT had a return on equity of 5.19% and a net margin of 14.73%. The business had revenue of $289.07 million during the quarter, compared to analyst estimates of $288.75 million. During the same quarter last year, the company posted $0.37 EPS. Apple Hospitality REIT’s revenue for the quarter was up 2.4% on a year-over-year basis. research analysts expect that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Monday, April 16th. Investors of record on Tuesday, April 3rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.12%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 148.15%.
In other Apple Hospitality REIT news, EVP Nelson Knight acquired 4,313 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, March 15th. The stock was purchased at an average cost of $17.35 per share, with a total value of $74,830.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Glade M. Knight acquired 10,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average cost of $17.16 per share, with a total value of $171,600.00. The disclosure for this purchase can be found here. Insiders purchased a total of 33,504 shares of company stock valued at $573,262 in the last quarter. 6.30% of the stock is currently owned by corporate insiders.
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Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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