Mirae Asset Global Investments Co. Ltd. Acquires 2,506 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 28.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,262 shares of the real estate investment trust’s stock after purchasing an additional 2,506 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Apple Hospitality REIT were worth $171,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of Apple Hospitality REIT by 27.2% during the first quarter. BNP Paribas Financial Markets now owns 108,191 shares of the real estate investment trust’s stock valued at $1,772,000 after acquiring an additional 23,127 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Apple Hospitality REIT by 6.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 69,089 shares of the real estate investment trust’s stock valued at $1,132,000 after purchasing an additional 4,430 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Apple Hospitality REIT during the 1st quarter valued at about $135,000. Texas Permanent School Fund Corp increased its position in shares of Apple Hospitality REIT by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 186,232 shares of the real estate investment trust’s stock valued at $3,050,000 after buying an additional 2,436 shares during the period. Finally, SG Americas Securities LLC raised its stake in Apple Hospitality REIT by 196.2% in the first quarter. SG Americas Securities LLC now owns 28,322 shares of the real estate investment trust’s stock worth $464,000 after buying an additional 18,760 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Down 0.6 %

APLE stock opened at $14.68 on Monday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average of $14.74 and a 200 day moving average of $14.62. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $17.90. The firm has a market cap of $3.56 billion, a PE ratio of 16.68 and a beta of 1.11.

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). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The company had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same period in the prior year, the firm earned $0.49 EPS. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 109.09%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the purchase, the chairman now owns 636,990 shares in the company, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

APLE has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Oppenheimer restated an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.25.

Apple Hospitality REIT 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.