Prudential Financial Inc. Sells 65,123 Shares of Apple Hospitality REIT Inc (APLE)
Prudential Financial Inc. trimmed its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500,795 shares of the real estate investment trust’s stock after selling 65,123 shares during the period. Prudential Financial Inc. owned about 1.09% of Apple Hospitality REIT worth $43,739,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in APLE. Forward Management LLC bought a new stake in Apple Hospitality REIT during the third quarter valued at $8,134,000. Ffcm LLC increased its stake in Apple Hospitality REIT by 2,412.9% during the third quarter. Ffcm LLC now owns 32,517 shares of the real estate investment trust’s stock valued at $570,000 after purchasing an additional 31,223 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Apple Hospitality REIT by 2.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 137,000 shares of the real estate investment trust’s stock valued at $2,396,000 after purchasing an additional 3,900 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Apple Hospitality REIT by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 658,284 shares of the real estate investment trust’s stock valued at $11,513,000 after purchasing an additional 340,701 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Apple Hospitality REIT by 76.4% during the third quarter. SG Americas Securities LLC now owns 99,414 shares of the real estate investment trust’s stock valued at $1,739,000 after purchasing an additional 43,042 shares during the last quarter. 58.09% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on APLE. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research note on Tuesday, November 6th. Finally, ValuEngine lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.25.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.21). The firm had revenue of $332.20 million for the quarter, compared to the consensus estimate of $340.17 million. Apple Hospitality REIT had a return on equity of 4.77% and a net margin of 13.42%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 EPS. On average, research analysts expect that Apple Hospitality REIT Inc will post 1.7 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which was paid on Thursday, November 15th. Stockholders of record on Friday, November 2nd were given a dividend of $0.10 per share. The ex-dividend date was Thursday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 7.61%. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
In other news, Director Redd Hugh purchased 2,000 shares of the stock in a transaction dated Friday, November 16th. The stock was acquired at an average price of $15.65 per share, for a total transaction of $31,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Justin G. Knight purchased 6,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were purchased at an average price of $17.65 per share, with a total value of $105,900.00. Following the transaction, the insider now directly owns 1,109,681 shares of the company’s stock, valued at approximately $19,585,869.65. The disclosure for this purchase can be found here. Insiders have bought 25,624 shares of company stock valued at $419,183 in the last 90 days. 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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