Principal Financial Group Inc. Purchases 26,489 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Principal Financial Group Inc. increased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,082,741 shares of the real estate investment trust’s stock after purchasing an additional 26,489 shares during the period. Principal Financial Group Inc. owned approximately 0.45% of Apple Hospitality REIT worth $16,620,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 80.9% in the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 2,193 shares during the last quarter. Covestor Ltd grew its position in Apple Hospitality REIT by 30.0% in the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 1,831 shares in the last quarter. KBC Group NV increased its stake in Apple Hospitality REIT by 37.8% during the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 2,541 shares during the last quarter. Entropy Technologies LP purchased a new stake in Apple Hospitality REIT during the fourth quarter valued at approximately $159,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Apple Hospitality REIT by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 2,506 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Down 1.5 %

Shares of APLE opened at $14.41 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.95 and a beta of 1.13. The company has a 50-day moving average of $15.23 and a 200 day moving average of $15.13. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $16.99.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $333.04 million for the quarter, compared to analysts’ expectations of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on APLE shares. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $17.00 in a report on Monday, January 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Company 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.