Apple Hospitality REIT, Inc. (NYSE:APLE) Stock Position Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 520,439 shares of the real estate investment trust’s stock after selling 5,186 shares during the period. Mackenzie Financial Corp’s holdings in Apple Hospitality REIT were worth $7,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after acquiring an additional 1,217,142 shares during the last quarter. Victory Capital Management Inc. grew its position in Apple Hospitality REIT by 17.2% in the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after buying an additional 881,217 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Apple Hospitality REIT by 47.6% in the fourth 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 buying an additional 678,905 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Apple Hospitality REIT by 400.8% during the 2nd quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after acquiring an additional 511,100 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Apple Hospitality REIT by 911.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock worth $5,648,000 after acquiring an additional 350,000 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APLE. Wedbush began coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Oppenheimer cut 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and an average target price of $16.25.

Apple Hospitality REIT Stock Down 1.9 %

NYSE:APLE opened at $14.85 on Tuesday. The business’s fifty day moving average price is $14.45 and its 200 day moving average price is $14.81. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 17.26 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, Inc. has a 1-year low of $13.60 and a 1-year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last issued its 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 business 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 quarter in the prior year, the company earned $0.49 EPS. On average, sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend is Monday, September 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

Insider Activity

In other news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction that occurred on 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 owns 636,990 shares in the company, valued at $8,943,339.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

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.