Principal Financial Group Inc. Sells 220,280 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Principal Financial Group Inc. lowered its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 17.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,056,252 shares of the real estate investment trust’s stock after selling 220,280 shares during the quarter. Principal Financial Group Inc. owned 0.44% of Apple Hospitality REIT worth $15,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the second quarter worth $26,000. Quarry LP lifted its stake in shares of Apple Hospitality REIT by 127.5% in the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,290 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 780 shares during the last quarter. Covestor Ltd increased its holdings in Apple Hospitality REIT by 115.6% during the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,313 shares during the period. Finally, Headlands Technologies LLC increased its holdings in Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 5,420 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Down 0.6 %

Shares of NYSE:APLE opened at $15.50 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.90. The company has a 50-day moving average price of $15.01 and a 200 day moving average price of $14.66. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 18.23 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same period in the previous year, the business earned $0.45 EPS. As a group, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.20%. The ex-dividend date was Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on APLE. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Company lowered their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.50.

About Apple Hospitality REIT

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.