Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,200 shares of the real estate investment trust’s stock after selling 5,200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Apple Hospitality REIT were worth $1,607,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in Apple Hospitality REIT in the second quarter worth about $26,000. Quarry LP lifted its holdings in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC lifted its holdings in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 780 shares during the period. Covestor Ltd lifted its holdings in Apple Hospitality REIT by 115.6% in 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. Finally, Headlands Technologies LLC lifted its holdings in Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 5,420 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analysts Set New Price Targets

APLE has been the subject of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $17.00 price target on shares of Apple Hospitality REIT in a report on Friday, October 4th. Wells Fargo & Company cut 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 report on Friday, September 13th. Finally, StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and a consensus target price of $16.25.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the acquisition, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $14.77 on Friday. The stock’s 50-day moving average price is $14.73 and its two-hundred day moving average price is $14.63. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.58 billion, a PE ratio of 17.33 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.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data 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 company had revenue of $390.08 million for 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 quarter in the previous year, the firm posted $0.49 EPS. On average, analysts predict that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.50%. Apple Hospitality REIT’s payout ratio is presently 111.63%.

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.