Jefferies Group LLC raised its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 46.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,158 shares of the real estate investment trust’s stock after purchasing an additional 20,000 shares during the period. Jefferies Group LLC’s holdings in Apple Hospitality REIT were worth $1,239,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE boosted its stake in Apple Hospitality REIT by 132.3% during the 4th quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 3,120 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Apple Hospitality REIT by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 494 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Apple Hospitality REIT by 67.7% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 4,468 shares during the last quarter. Evermay Wealth Management LLC purchased a new stake in Apple Hospitality REIT during the 4th quarter valued at $218,000. Finally, Cadence Capital Management LLC boosted its stake in Apple Hospitality REIT by 28.6% during the 3rd quarter. Cadence Capital Management LLC now owns 15,241 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 3,394 shares during the last quarter. Institutional investors and hedge funds own 54.51% of the company’s stock.
In related news, insider Justin G. Knight bought 2,800 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were bought at an average cost of $17.38 per share, with a total value of $48,664.00. Following the acquisition, the insider now owns 1,109,681 shares in the company, valued at $19,286,255.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Redd Hugh bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was bought at an average cost of $16.89 per share, for a total transaction of $84,450.00. The disclosure for this purchase can be found here. Insiders have bought a total of 29,191 shares of company stock worth $498,432 over the last three months. Insiders own 6.30% of the company’s stock.
APLE has been the topic of several recent analyst reports. Barclays reiterated an “equal weight” rating and set a $20.00 target price (down from $21.00) on shares of Apple Hospitality REIT in a research note on Tuesday, February 27th. Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. KeyCorp assumed coverage on Apple Hospitality REIT in a report on Friday, January 12th. They set a “sector weight” rating on the stock. Robert W. Baird set a $20.00 price target on Apple Hospitality REIT and gave the company a “buy” rating in a report on Monday, February 26th. Finally, TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus price target of $20.20.
Apple Hospitality REIT Inc (APLE) opened at $17.41 on Friday. The firm has a market capitalization of $3,880.00 and a price-to-earnings ratio of 21.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT Inc has a twelve month low of $16.72 and a twelve month high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $289.07 million for the quarter, compared to analysts’ expectations of $288.75 million. Apple Hospitality REIT had a return on equity of 5.19% and a net margin of 14.73%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. sell-side analysts predict that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which was paid on Thursday, March 15th. Stockholders of record on Friday, March 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $1.20 annualized dividend and a dividend yield of 6.89%. Apple Hospitality REIT’s payout ratio is 146.34%.
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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 December 5, 2017, the Company owned 239 hotels, with more than 30,300 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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