Apple Hospitality REIT Inc (APLE) Shares Bought by Swiss National Bank
Swiss National Bank increased its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 380,710 shares of the real estate investment trust’s stock after purchasing an additional 11,800 shares during the period. Swiss National Bank’s holdings in Apple Hospitality REIT were worth $6,807,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. TLP Group LLC increased its stake in Apple Hospitality REIT by 1,074.4% during the first quarter. TLP Group LLC now owns 12,942 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 11,840 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in Apple Hospitality REIT by 50.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 242,130 shares of the real estate investment trust’s stock valued at $4,255,000 after acquiring an additional 80,834 shares during the period. Financial Counselors Inc. bought a new position in Apple Hospitality REIT during the second quarter valued at about $226,000. Manning & Napier Group LLC bought a new position in Apple Hospitality REIT during the second quarter valued at about $3,349,000. Finally, Sei Investments Co. increased its stake in Apple Hospitality REIT by 13.4% during the second quarter. Sei Investments Co. now owns 169,954 shares of the real estate investment trust’s stock valued at $3,039,000 after acquiring an additional 20,137 shares during the period. 56.54% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. B. Riley upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, August 8th. TheStreet upgraded Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, May 18th. Finally, ValuEngine lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $20.25.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a net margin of 13.55% and a return on equity of 4.80%. The company had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. analysts forecast that Apple Hospitality REIT Inc will post 1.73 earnings per share for the current year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, September 17th. Stockholders of record on Tuesday, September 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 6.85%. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, August 10th. The shares were acquired at an average cost of $17.33 per share, with a total value of $86,650.00. Following the acquisition, the insider now directly owns 10,098,533 shares of the company’s stock, valued at $175,007,576.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Blythe J. Mcgarvie bought 11,500 shares of Apple Hospitality REIT stock in a transaction dated Monday, August 13th. The stock was acquired at an average cost of $17.32 per share, for a total transaction of $199,180.00. Following the completion of the acquisition, the director now directly owns 9,744 shares in the company, valued at $168,766.08. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 34,189 shares of company stock worth $598,010. Corporate insiders own 6.30% of the company’s stock.
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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