Maryland State Retirement & Pension System Has $1.14 Million Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Maryland State Retirement & Pension System lifted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,582 shares of the real estate investment trust’s stock after buying an additional 1,905 shares during the period. Maryland State Retirement & Pension System’s holdings in Apple Hospitality REIT were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APLE. Principal Securities Inc. bought a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at $26,000. EdgeRock Capital LLC acquired a new position in Apple Hospitality REIT in the fourth quarter valued at about $27,000. YHB Investment Advisors Inc. bought a new stake in Apple Hospitality REIT during the first quarter worth about $37,000. GAMMA Investing LLC acquired a new stake in Apple Hospitality REIT during the fourth quarter worth about $41,000. Finally, Fortis Group Advisors LLC increased its holdings 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 buying an additional 1,493 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on APLE. Oppenheimer reduced 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 research report on Monday, August 12th. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Wedbush started coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Apple Hospitality REIT Price Performance

APLE stock opened at $14.44 on Friday. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 16.79 and a beta of 1.11. The company has a 50 day simple moving average of $14.43 and a 200 day simple moving average of $15.08.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same quarter in the previous year, the company posted $0.49 earnings per share. Research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.4 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

Insider Transactions 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 that occurred 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 transaction, the chairman now directly 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 through this link. Company insiders own 6.80% of the company’s stock.

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.