Congress Asset Management Co. MA Sells 13,806 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Congress Asset Management Co. MA lowered its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 390,081 shares of the real estate investment trust’s stock after selling 13,806 shares during the quarter. Congress Asset Management Co. MA owned 0.16% of Apple Hospitality REIT worth $6,479,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Securities Inc. bought a new stake in Apple Hospitality REIT during the 4th quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in shares of Apple Hospitality REIT during the fourth quarter worth about $27,000. GAMMA Investing LLC purchased a new position in Apple Hospitality REIT during the 4th quarter valued at about $41,000. Fortis Group Advisors LLC lifted its holdings 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 worth $50,000 after buying an additional 1,493 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Apple Hospitality REIT by 11.9% in the 4th quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock worth $106,000 after buying an additional 734 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on APLE shares. Wedbush initiated coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price for the company. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $17.83.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $14.44 on Monday. The company’s fifty day moving average price is $14.85 and its 200-day moving average price is $15.91. The stock has a market cap of $3.50 billion, a PE ratio of 16.79 and a beta of 1.10. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. Apple Hospitality REIT, Inc. has a 12 month low of $13.96 and a 12 month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. The business had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. During the same quarter last year, the company posted $0.34 EPS. On average, equities analysts expect that Apple Hospitality REIT, Inc. will post 1.4 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Friday, May 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 111.63%.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of $14.78 per share, with a total value of $73,900.00. Following the transaction, the chairman now directly owns 631,990 shares in the company, valued at $9,340,812.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

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.