Daiwa Securities Group Inc. Increases Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Daiwa Securities Group Inc. raised its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,363 shares of the real estate investment trust’s stock after acquiring an additional 1,274 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Apple Hospitality REIT were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Apple Hospitality REIT by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after acquiring an additional 1,217,142 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Apple Hospitality REIT by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock valued at $121,192,000 after acquiring an additional 253,082 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Apple Hospitality REIT by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock valued at $119,553,000 after acquiring an additional 247,110 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Apple Hospitality REIT by 17.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Apple Hospitality REIT by 2.1% during the 2nd quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust’s stock worth $37,398,000 after purchasing an additional 53,300 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target on the stock. Oppenheimer decreased their price target on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Wells Fargo & Company decreased their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.25.

Apple Hospitality REIT Price Performance

APLE opened at $14.28 on Monday. The company’s 50 day simple moving average is $14.39 and its 200 day simple moving average is $14.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The stock has a market capitalization of $3.46 billion, a PE ratio of 16.60 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) 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 the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The company had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.08 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 6.72%. Apple Hospitality REIT’s dividend payout ratio is presently 111.63%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $14.04 per share, with a total value of $70,200.00. Following the completion of the transaction, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Apple Hospitality REIT 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, 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.