SG Americas Securities LLC Sells 19,844 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

SG Americas Securities LLC cut its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 70.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,478 shares of the real estate investment trust’s stock after selling 19,844 shares during the period. SG Americas Securities LLC’s holdings in Apple Hospitality REIT were worth $123,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Apple Hospitality REIT by 3.5% in the first 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. Price T Rowe Associates Inc. MD grew its position in Apple Hospitality REIT by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock worth $121,192,000 after buying an additional 253,082 shares in the last quarter. Principal Financial Group Inc. increased its stake in Apple Hospitality REIT by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock worth $119,553,000 after acquiring an additional 247,110 shares during the last quarter. Norges Bank bought a new position in Apple Hospitality REIT in the 4th quarter worth about $36,260,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Apple Hospitality REIT by 47.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock valued at $34,977,000 after acquiring an additional 678,905 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $14.50 on Monday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 16.86 and a beta of 1.11. The company has a fifty day moving average of $14.45 and a 200-day moving average of $15.13. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly 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). The business had revenue of $390.08 million for the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same quarter in the previous year, the company earned $0.49 earnings per share. Equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.4 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 annualized dividend and a yield of 6.62%. Apple Hospitality REIT’s payout ratio is currently 111.63%.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

APLE has been the subject of several recent analyst reports. Wedbush assumed coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective for the company. 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 report on Monday, August 12th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Five investment 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 stock currently has a consensus rating of “Hold” and an average price target of $17.00.

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.