BlackRock Inc. cut its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,784,886 shares of the real estate investment trust’s stock after selling 118,272 shares during the period. BlackRock Inc. owned approximately 6.85% of Apple Hospitality REIT worth $282,237,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of Apple Hospitality REIT by 73.9% during the first 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 buying an additional 1,400,124 shares during the period. SG Americas Securities LLC increased its stake in shares of Apple Hospitality REIT by 118.4% during the first quarter. SG Americas Securities LLC now owns 50,895 shares of the real estate investment trust’s stock valued at $894,000 after buying an additional 27,596 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Apple Hospitality REIT by 6.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 221,245 shares of the real estate investment trust’s stock valued at $3,887,000 after buying an additional 14,020 shares during the period. Swiss National Bank increased its stake in shares of Apple Hospitality REIT by 2.2% during the first quarter. Swiss National Bank now owns 368,910 shares of the real estate investment trust’s stock valued at $6,482,000 after buying an additional 8,000 shares during the period. Finally, Eaton Vance Management purchased a new position in shares of Apple Hospitality REIT during the first quarter valued at approximately $503,000. 56.56% of the stock is owned by institutional investors and hedge funds.

In related news, insider Justin G. Knight bought 6,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average cost of $17.65 per share, with a total value of $105,900.00. Following the completion of the purchase, the insider now owns 1,109,681 shares in the company, valued at approximately $19,585,869.65. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Glade M. Knight bought 10,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was bought at an average cost of $17.63 per share, for a total transaction of $176,300.00. Following the completion of the purchase, the insider now owns 10,098,933 shares of the company’s stock, valued at approximately $178,044,188.79. The disclosure for this purchase can be found here. Over the last three months, insiders bought 33,657 shares of company stock worth $588,035. Insiders own 6.30% of the company’s stock.

Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, August 8th. Finally, ValuEngine cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $20.25.

Shares of APLE stock opened at $17.54 on Tuesday. The firm has a market capitalization of $4.04 billion, a P/E ratio of 10.08, a PEG ratio of 2.03 and a beta of 0.64. Apple Hospitality REIT Inc has a twelve month low of $16.72 and a twelve month 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.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.22). The firm had revenue of $344.70 million during the quarter, compared to analysts’ expectations of $347.27 million. Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. Apple Hospitality REIT’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 earnings per share. equities analysts anticipate that Apple Hospitality REIT Inc will post 1.73 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th were paid a $0.10 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.84%. 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 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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