BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,715 shares of the real estate investment trust’s stock after selling 2,109 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Apple Hospitality REIT were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after purchasing an additional 1,217,142 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Apple Hospitality REIT by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock valued at $121,192,000 after buying an additional 253,082 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Apple Hospitality REIT by 3.5% in the first quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock valued at $119,553,000 after acquiring an additional 247,110 shares during the period. Norges Bank purchased a new position in shares of Apple Hospitality REIT during the fourth quarter worth approximately $36,260,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Apple Hospitality REIT by 47.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock valued at $34,977,000 after acquiring an additional 678,905 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Down 1.2 %

APLE stock opened at $14.27 on Wednesday. The stock has a market capitalization of $3.46 billion, a PE ratio of 16.59 and a beta of 1.11. The company has a fifty day moving average of $14.42 and a 200-day moving average of $15.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, analysts expect that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APLE shares. Wedbush initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective on the stock. Oppenheimer lowered their price target on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the transaction, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.80% 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, 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.