Jefferies Group LLC boosted its position in Apple Hospitality REIT (NYSE:APLE) by 46.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,158 shares of the real estate investment trust’s stock after acquiring an additional 20,000 shares during the quarter. Jefferies Group LLC’s holdings in Apple Hospitality REIT were worth $1,239,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. PGGM Investments purchased a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $70,988,000. American Century Companies Inc. increased its stake in Apple Hospitality REIT by 342.0% in the fourth quarter. American Century Companies Inc. now owns 1,271,120 shares of the real estate investment trust’s stock valued at $24,927,000 after purchasing an additional 983,516 shares during the last quarter. APG Asset Management N.V. increased its stake in Apple Hospitality REIT by 283.1% in the fourth quarter. APG Asset Management N.V. now owns 1,140,900 shares of the real estate investment trust’s stock valued at $18,632,000 after purchasing an additional 843,100 shares during the last quarter. BlackRock Inc. increased its stake in Apple Hospitality REIT by 4.6% in the fourth quarter. BlackRock Inc. now owns 15,059,145 shares of the real estate investment trust’s stock valued at $295,311,000 after purchasing an additional 656,597 shares during the last quarter. Finally, First Quadrant L P CA purchased a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $12,496,000. 54.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of APLE traded down $0.12 during mid-day trading on Friday, reaching $17.51. 1,172,231 shares of the company’s stock were exchanged, compared to its average volume of 1,381,315. Apple Hospitality REIT has a 52-week low of $16.72 and a 52-week high of $20.19. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.13. The firm has a market cap of $4,058.50, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.01 and a beta of 0.65.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Thursday, February 22nd. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Apple Hospitality REIT had a net margin of 14.73% and a return on equity of 5.19%. The firm had revenue of $289.07 million for the quarter, compared to analyst estimates of $288.75 million. During the same period last year, the firm posted $0.37 EPS. Apple Hospitality REIT’s quarterly revenue was up 2.4% on a year-over-year basis. equities research analysts forecast that Apple Hospitality REIT will post 1.75 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Monday, April 16th. Stockholders of record on Tuesday, April 3rd will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Monday, April 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 68.97%.
A number of equities analysts have recently issued reports on APLE shares. Robert W. Baird restated a “buy” rating and set a $21.00 target price on shares of Apple Hospitality REIT in a research report on Friday, January 12th. Barclays restated an “equal weight” rating and set a $20.00 target price (down from $21.00) on shares of Apple Hospitality REIT in a research report on Tuesday, February 27th. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, January 12th. TheStreet upgraded shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research report on Friday, December 8th. Finally, KeyCorp started coverage on shares of Apple Hospitality REIT in a research report on Friday, January 12th. They set a “sector weight” rating on the stock. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $20.20.
In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,800 shares of the stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of $17.10 per share, for a total transaction of $99,180.00. Following the acquisition, the chairman now directly owns 10,052,157 shares of the company’s stock, valued at $171,891,884.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nelson Knight purchased 4,313 shares of the stock in a transaction on Thursday, March 15th. The stock was acquired at an average price of $17.35 per share, with a total value of $74,830.55. The disclosure for this purchase can be found here. Insiders have bought a total of 33,504 shares of company stock valued at $573,262 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.
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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 portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.
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