Franklin Resources Inc. Sells 241,012 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Franklin Resources Inc. reduced its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 66.4% during the third quarter, Holdings Channel.com reports. The firm owned 121,812 shares of the real estate investment trust’s stock after selling 241,012 shares during the period. Franklin Resources Inc.’s holdings in Apple Hospitality REIT were worth $1,826,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in APLE. Quarry LP lifted its position in shares of Apple Hospitality REIT by 127.5% in the 2nd 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 grew its holdings in shares of Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares during the period. Headlands Technologies LLC raised its position in shares of Apple Hospitality REIT by 4,406.5% in the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 5,420 shares in the last quarter. Palouse Capital Management Inc. purchased a new position in shares of Apple Hospitality REIT in the 2nd quarter valued at approximately $99,000. Finally, Covestor Ltd boosted its position in shares of Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 1,831 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $15.76 on Friday. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 18.54 and a beta of 1.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.10. The business’s fifty day simple moving average is $15.62 and its two-hundred day simple moving average is $14.92.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the previous year, the business posted $0.45 earnings per share. Research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Tuesday, December 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 112.94%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on APLE. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, Wells Fargo & Company cut their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.80.

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.