PFG Investments LLC Reduces Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

PFG Investments LLC lowered its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 5.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 12,050 shares of the real estate investment trust’s stock after selling 725 shares during the period. PFG Investments LLC’s holdings in Apple Hospitality REIT were worth $175,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in APLE. Natixis Advisors L.P. boosted its position in shares of Apple Hospitality REIT by 63.4% during the 4th quarter. Natixis Advisors L.P. now owns 32,041 shares of the real estate investment trust’s stock worth $532,000 after purchasing an additional 12,434 shares during the period. Principal Securities Inc. purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Apple Hospitality REIT by 4.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,720 shares of the real estate investment trust’s stock worth $2,212,000 after purchasing an additional 5,882 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Apple Hospitality REIT by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 9,705 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 2,788 shares during the period. Finally, Sheaff Brock Investment Advisors LLC purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $1,243,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the purchase, the chairman now directly owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Apple Hospitality REIT Price Performance

Shares of APLE opened at $14.28 on Friday. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $17.90. The firm’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $14.94. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 16.60 and a beta of 1.12. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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

Apple Hospitality REIT Dividend Announcement

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

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.