Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,952,818 shares of the real estate investment trust’s stock after buying an additional 85,733 shares during the period. Bank of New York Mellon Corp owned about 0.81% of Apple Hospitality REIT worth $28,394,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EdgeRock Capital LLC purchased a new position in Apple Hospitality REIT in the second quarter worth $26,000. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Apple Hospitality REIT by 3,768.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after purchasing an additional 339,156 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Apple Hospitality REIT by 7.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 113,400 shares of the real estate investment trust’s stock valued at $1,649,000 after purchasing an additional 8,000 shares in the last quarter. Inlet Private Wealth LLC lifted its stake in shares of Apple Hospitality REIT by 3.1% in the second quarter. Inlet Private Wealth LLC now owns 196,575 shares of the real estate investment trust’s stock valued at $2,858,000 after purchasing an additional 6,000 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Apple Hospitality REIT by 1.8% during the second quarter. Nisa Investment Advisors LLC now owns 86,027 shares of the real estate investment trust’s stock worth $1,258,000 after buying an additional 1,528 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired 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 filing with the SEC, which is available through the SEC website. 6.80% of the stock is owned by corporate insiders.

Apple Hospitality REIT Trading Down 1.2 %

Shares of APLE opened at $14.27 on Wednesday. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $14.42 and a 200-day simple moving average of $15.05. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 16.59 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results 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). The company had revenue of $390.08 million during the quarter, compared to analyst estimates 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 last year, the firm earned $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 Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.73%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 111.63%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on APLE shares. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Wedbush initiated 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. Finally, Oppenheimer lowered their target price on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.