Rhumbline Advisers Raises Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Rhumbline Advisers boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 729,227 shares of the real estate investment trust’s stock after acquiring an additional 30,434 shares during the quarter. Rhumbline Advisers owned about 0.30% of Apple Hospitality REIT worth $10,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APLE. Principal Securities Inc. purchased a new stake in Apple Hospitality REIT in the fourth quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new position in Apple Hospitality REIT during the 2nd quarter worth about $26,000. YHB Investment Advisors Inc. purchased a new position in Apple Hospitality REIT during the 1st quarter valued at about $37,000. Fortis Group Advisors LLC grew its position in Apple Hospitality REIT by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Covestor Ltd increased its stake in Apple Hospitality REIT by 115.6% during the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 2,313 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 0.2 %

Shares of Apple Hospitality REIT stock opened at $14.05 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $3.40 billion, a P/E ratio of 16.33 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The company’s fifty day moving average is $14.39 and its two-hundred day moving average is $14.98.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) 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 net margin of 14.91% and a return on equity of 6.30%. During the same period in the previous year, the firm posted $0.49 EPS. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm 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. This represents a $0.96 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Friday, August 30th. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the acquisition, the chairman now owns 636,990 shares in the company, valued at $8,943,339.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wedbush assumed coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective on the stock. Oppenheimer cut their price target 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and a consensus price target of $17.00.

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.