Vanguard Group Inc. Trims Stake in Apple Hospitality REIT, Inc. $APLE

Vanguard Group Inc. reduced its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 33,261,470 shares of the real estate investment trust’s stock after selling 288,858 shares during the period. Vanguard Group Inc. owned approximately 0.14% of Apple Hospitality REIT worth $394,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Centerbridge Partners L.P. raised its position in Apple Hospitality REIT by 18.4% during the third quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock valued at $26,996,000 after acquiring an additional 350,000 shares in the last quarter. Strs Ohio raised its position in Apple Hospitality REIT by 18.1% during the third quarter. Strs Ohio now owns 979,334 shares of the real estate investment trust’s stock valued at $11,762,000 after acquiring an additional 150,000 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Apple Hospitality REIT during the third quarter valued at approximately $5,129,000. Waterfall Asset Management LLC raised its position in Apple Hospitality REIT by 82.5% during the third quarter. Waterfall Asset Management LLC now owns 730,000 shares of the real estate investment trust’s stock valued at $8,767,000 after acquiring an additional 330,000 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in Apple Hospitality REIT by 10.8% during the third quarter. Public Sector Pension Investment Board now owns 972,074 shares of the real estate investment trust’s stock valued at $11,675,000 after acquiring an additional 94,630 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 3.0%

Shares of APLE opened at $14.02 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.40 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT, Inc. has a 12 month low of $10.85 and a 12 month high of $14.03. The stock’s 50 day moving average is $12.32 and its two-hundred day moving average is $12.07. The firm has a market cap of $3.31 billion, a P/E ratio of 19.20, a PEG ratio of 8.35 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The company had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Analysts predict that Apple Hospitality REIT, Inc. will post 1.51 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. Apple Hospitality REIT’s payout ratio is currently 129.73%.

Analyst Ratings Changes

APLE has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Barclays reduced their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. LADENBURG THALM/SH SH assumed coverage on Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.64.

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.