Apple Hospitality REIT, Inc. (NYSE:APLE) Position Boosted by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 13.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,899 shares of the real estate investment trust’s stock after acquiring an additional 59,741 shares during the period. Public Sector Pension Investment Board owned approximately 0.20% of Apple Hospitality REIT worth $7,210,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Apple Hospitality REIT during the fourth quarter valued at $36,260,000. Vanguard Group Inc. raised its position in shares of 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 worth $582,400,000 after buying an additional 1,217,142 shares in the last quarter. Foundry Partners LLC lifted its stake in shares of Apple Hospitality REIT by 11.3% in the 1st quarter. Foundry Partners LLC now owns 347,717 shares of the real estate investment trust’s stock worth $5,696,000 after acquiring an additional 35,166 shares during the period. Entropy Technologies LP bought a new position in shares of Apple Hospitality REIT in the first quarter valued at approximately $338,000. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Apple Hospitality REIT by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 186,232 shares of the real estate investment trust’s stock valued at $3,050,000 after acquiring an additional 2,436 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the acquisition, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Trading Up 0.4 %

Shares of NYSE:APLE opened at $15.26 on Wednesday. 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 stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.74 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $17.90. The company has a 50 day moving average price of $14.45 and a 200 day moving average price of $14.86.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). The company had revenue of $390.08 million for the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same period in the prior year, the business earned $0.49 earnings per share. On average, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.29%. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price 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. Oppenheimer dropped their price objective on 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, Wedbush started coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.25.

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.