Rhumbline Advisers Increases Holdings in Apple Hospitality REIT, Inc. (NYSE:APPLE)

Rhumbline Advisers boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 729,227 shares of the real estate investment trust’s stock after acquiring an additional 30,434 shares during the quarter. Rhumbline Advisers owned about 0.30% of Apple Hospitality REIT worth $10,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APLE. Principal Securities Inc. purchased a new stake in Apple Hospitality REIT in the fourth quarter valued at about $26,000. EdgeRock Capital LLC purchased a new position in Apple Hospitality REIT during the second quarter valued at approximately $26,000. YHB Investment Advisors Inc. acquired a new position in Apple Hospitality REIT in the first quarter valued at approximately $37,000. Fortis Group Advisors LLC raised its position in Apple Hospitality REIT by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,493 shares during the last quarter. Finally, Covestor Ltd raised its stake in Apple Hospitality REIT by 115.6% in the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,313 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s shares.

Apple Hospitality REIT traded up 0.2%

Shares of Apple Hospitality REIT stock opened at $14.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75, and a current ratio of 0.75. The company has a market cap of $3.40 billion, a P/E ratio of 16.33 and a beta of 1.12. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90. The company’s fifty day moving average is $14.39 and its two hundred day moving average is $14.98.

Apple Hospitality REIT (NYSE:APLE – Get Your Free Report ) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The company had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period in the previous year, the firm posted EPS of $0.49. Analysts estimate that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.08 dividend. This represents an annualized dividend of $0.96 and a yield of 6.84%. The ex-dividend date of this dividend is Friday, August 30. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the acquisition, the chairman now owns 636,990 shares in the company, valued at $8,943,339.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. 6.80% of shares are held by corporate insiders.

Changes in Analyst Ratings

A number of analysts recently weighed in on the company. Wedbush assumed coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective on the stock. Oppenheimer cut their price target on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Apple Hospitality REIT currently has an average rating of “Hold” and a consensus price target of $17.00, based on data from MarketBeat.com.

Get the latest research report on Apple Hospitality REIT

About Apple Hospitality REIT

(Free Report)

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 rooms-focused luxury hotels in the United States. The Apple Hospitality portfolio consists of 223 hotels with more than 29,400 rooms located in 87 markets in 37 states, as well as a third-party leased property.

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