Cohen & Steers Inc. grew its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,988,766 shares of the real estate investment trust’s stock after acquiring an additional 507,598 shares during the quarter. Cohen & Steers Inc. owned 3.13% of Apple Hospitality REIT worth $132,158,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morgan Stanley increased its stake in shares of Apple Hospitality REIT by 31.1% during the first quarter. Morgan Stanley now owns 88,526 shares of the real estate investment trust’s stock valued at $1,692,000 after buying an additional 20,987 shares during the period. Bank of Montreal Can increased its position in Apple Hospitality REIT by 12.8% during the second quarter. Bank of Montreal Can now owns 84,087 shares of the real estate investment trust’s stock valued at $1,573,000 after acquiring an additional 9,520 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Apple Hospitality REIT by 26.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after buying an additional 1,393 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Apple Hospitality REIT by 15.6% in the second quarter. Daiwa Securities Group Inc. now owns 14,100 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 1,900 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in Apple Hospitality REIT by 19.9% during the second quarter. Global X Management Co. LLC now owns 61,970 shares of the real estate investment trust’s stock valued at $1,159,000 after buying an additional 10,283 shares during the last quarter. 50.91% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $20.00 price target on Apple Hospitality REIT and gave the stock a “buy” rating in a report on Sunday, October 29th. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Canaccord Genuity reissued a “hold” rating and issued a $19.00 price objective (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Finally, B. Riley reissued a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.67.
In other news, insider Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $19.18 per share, for a total transaction of $95,900.00. Following the completion of the purchase, the insider now directly owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.30% of the company’s stock.
Apple Hospitality REIT Inc (APLE) opened at $19.74 on Friday. Apple Hospitality REIT Inc has a 52 week low of $17.49 and a 52 week high of $20.68. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $4,389.84, a PE ratio of 11.25, a P/E/G ratio of 2.26 and a beta of 0.62.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The company had revenue of $324.90 million during the quarter, compared to analyst estimates of $324.66 million. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. Apple Hospitality REIT’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. research analysts forecast that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, December 4th will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Friday, December 1st. Apple Hospitality REIT’s dividend payout ratio is presently 118.81%.
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About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of October 23, 2017, the Company owned 238 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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