Amalgamated Bank Sells 2,910 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Amalgamated Bank cut its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,615 shares of the real estate investment trust’s stock after selling 2,910 shares during the quarter. Amalgamated Bank’s holdings in Apple Hospitality REIT were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in APLE. SG Americas Securities LLC increased its holdings in Apple Hospitality REIT by 196.2% in the 1st quarter. SG Americas Securities LLC now owns 28,322 shares of the real estate investment trust’s stock worth $464,000 after purchasing an additional 18,760 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Apple Hospitality REIT by 16.9% in the first quarter. Russell Investments Group Ltd. now owns 187,613 shares of the real estate investment trust’s stock valued at $3,073,000 after buying an additional 27,076 shares during the period. ProShare Advisors LLC raised its holdings in Apple Hospitality REIT by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 43,425 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 2,991 shares during the last quarter. Entropy Technologies LP acquired a new stake in Apple Hospitality REIT during the 1st quarter worth approximately $338,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Apple Hospitality REIT by 1.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after acquiring an additional 1,050 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on APLE. Wells Fargo & Company dropped their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.50.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $15.60 on Friday. The company has a market capitalization of $3.74 billion, a PE ratio of 18.35 and a beta of 1.11. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $17.90. The firm has a fifty day simple moving average of $14.98 and a 200 day simple moving average of $14.65.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

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.