State of New Jersey Common Pension Fund D Sells 105,384 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

State of New Jersey Common Pension Fund D reduced its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 28.8% during the second quarter, HoldingsChannel.com reports. The firm owned 261,091 shares of the real estate investment trust’s stock after selling 105,384 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Apple Hospitality REIT were worth $3,796,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of Apple Hospitality REIT by 3.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 859 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Apple Hospitality REIT by 1.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after purchasing an additional 1,050 shares in the last quarter. United Services Automobile Association lifted its position in Apple Hospitality REIT by 7.6% in the 2nd quarter. United Services Automobile Association now owns 15,408 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 1,094 shares in the last quarter. Aurora Investment Counsel lifted its position in Apple Hospitality REIT by 4.5% in the 1st quarter. Aurora Investment Counsel now owns 26,799 shares of the real estate investment trust’s stock valued at $439,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Apple Hospitality REIT by 1.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 70,363 shares of the real estate investment trust’s stock valued at $1,023,000 after acquiring an additional 1,274 shares in the last quarter. 89.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the purchase, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by company insiders.

Apple Hospitality REIT Trading Up 0.3 %

NYSE:APLE opened at $14.38 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 16.72 and a beta of 1.12. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90. The business has a fifty day moving average price of $14.39 and a 200-day moving average price of $14.92.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The company had revenue of $390.08 million during the quarter, compared to analysts’ expectations 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 last year, the company earned $0.49 earnings per share. Sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.08 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.68%. Apple Hospitality REIT’s payout ratio is presently 111.63%.

Analysts Set New Price Targets

APLE has been the topic of several analyst reports. Oppenheimer lowered their price objective on 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. Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Wedbush initiated coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.25.

Apple Hospitality REIT Company 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.