Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,308 shares of the real estate investment trust’s stock after selling 1,223 shares during the period. M&T Bank Corp’s holdings in Apple Hospitality REIT were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in APLE. Barclays PLC lifted its position in Apple Hospitality REIT by 118.8% in the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust’s stock valued at $6,273,000 after purchasing an additional 229,293 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Apple Hospitality REIT by 0.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 284,100 shares of the real estate investment trust’s stock valued at $4,219,000 after buying an additional 2,200 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Apple Hospitality REIT in the third quarter valued at approximately $497,000. MML Investors Services LLC grew its holdings in Apple Hospitality REIT by 13.6% during the third quarter. MML Investors Services LLC now owns 71,039 shares of the real estate investment trust’s stock worth $1,055,000 after acquiring an additional 8,494 shares during the period. Finally, Systematic Financial Management LP raised its position in Apple Hospitality REIT by 11.0% in the third quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock worth $31,183,000 after acquiring an additional 207,256 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

APLE has been the topic of several research analyst reports. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price on the stock. Oppenheimer restated an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Wells Fargo & Company reduced their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.80.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $15.25 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.42. The business’s fifty day moving average price is $15.57 and its two-hundred day moving average price is $14.87. The stock has a market cap of $3.66 billion, a PE ratio of 17.94 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter last year, the firm earned $0.45 earnings per share. On average, analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend was Friday, November 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

About Apple Hospitality REIT

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.