M&T Bank Corp Cuts Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

M&T Bank Corp cut its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,308 shares of the real estate investment trust’s stock after selling 1,223 shares during the period. M&T Bank Corp’s holdings in Apple Hospitality REIT were worth $302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of APLE. Masterton Capital Management LP acquired a new position in shares of Apple Hospitality REIT in the 2nd quarter valued at $3,378,000. Dimensional Fund Advisors LP raised its position in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after buying an additional 154,159 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Apple Hospitality REIT by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after acquiring an additional 182,917 shares during the last quarter. Centiva Capital LP purchased a new stake in Apple Hospitality REIT during the third quarter valued at about $1,067,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Apple Hospitality REIT by 14.9% in the 3rd quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after purchasing an additional 105,993 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Down 4.8 %

Shares of NYSE:APLE opened at $15.25 on Thursday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.94 and a beta of 1.13. The company has a 50 day moving average of $15.57 and a two-hundred day moving average of $14.87. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.42. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

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 for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. During the same quarter last year, the company posted $0.45 earnings per share. As a group, analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, November 29th. This represents a $0.96 annualized dividend and a dividend yield of 6.30%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Wall Street Analysts Forecast Growth

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

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.