First Trust Advisors LP Buys 87,029 Shares of Apple Hospitality REIT Inc (APLE)
First Trust Advisors LP increased its stake in Apple Hospitality REIT Inc (NYSE:APLE) by 11.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 881,234 shares of the real estate investment trust’s stock after purchasing an additional 87,029 shares during the quarter. First Trust Advisors LP owned about 0.38% of Apple Hospitality REIT worth $15,413,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the stock. Commonwealth Bank of Australia grew its position in Apple Hospitality REIT by 70.2% during the second quarter. Commonwealth Bank of Australia now owns 9,193 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 3,793 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in Apple Hospitality REIT during the second quarter worth about $169,000. Howe & Rusling Inc. purchased a new position in Apple Hospitality REIT during the second quarter worth about $168,000. US Bancorp DE grew its position in Apple Hospitality REIT by 98.9% during the second quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 4,908 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Apple Hospitality REIT during the second quarter worth about $177,000. Institutional investors and hedge funds own 57.15% of the company’s stock.
In other news, insider Glade M. Knight acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was purchased at an average cost of $17.63 per share, for a total transaction of $176,300.00. Following the acquisition, the insider now owns 10,098,933 shares of the company’s stock, valued at $178,044,188.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Justin G. Knight acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was purchased at an average price of $17.65 per share, with a total value of $105,900.00. Following the completion of the acquisition, the insider now directly owns 1,109,681 shares in the company, valued at approximately $19,585,869.65. The disclosure for this purchase can be found here. Insiders bought a total of 27,501 shares of company stock valued at $481,397 over the last quarter. Company insiders own 6.30% of the company’s stock.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.21). Apple Hospitality REIT had a return on equity of 4.77% and a net margin of 13.42%. The firm had revenue of $332.20 million during the quarter, compared to analysts’ expectations of $340.17 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. Apple Hospitality REIT’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Apple Hospitality REIT Inc will post 1.71 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, November 2nd will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date of this dividend is Thursday, November 1st. Apple Hospitality REIT’s payout ratio is currently 68.97%.
Several research firms recently commented on APLE. B. Riley set a $20.00 target price on Apple Hospitality REIT and gave the stock a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, ValuEngine cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.25.
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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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