Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Bought by Arizona State Retirement System

Arizona State Retirement System boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,453 shares of the real estate investment trust’s stock after purchasing an additional 4,716 shares during the quarter. Arizona State Retirement System’s holdings in Apple Hospitality REIT were worth $937,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in 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 acquiring an additional 1,217,142 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 purchasing an additional 253,082 shares during the period. Principal Financial Group Inc. increased its stake in shares of Apple Hospitality REIT by 3.5% during the first quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock worth $119,553,000 after purchasing an additional 247,110 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Apple Hospitality REIT by 17.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Finally, Norges Bank purchased a new position in Apple Hospitality REIT in the 4th quarter valued at about $36,260,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the purchase, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

APLE has been the subject of several research reports. Wells Fargo & Company cut their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday. Wedbush began coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price objective for the company. Finally, Oppenheimer lowered their target price on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $16.25.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $14.28 on Friday. The business’s 50 day moving average price is $14.39 and its 200 day moving average price is $14.96. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 16.60 and a beta of 1.12. 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 posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The company had revenue of $390.08 million for the quarter, compared to analysts’ expectations of $388.82 million. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, research analysts predict that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.72%. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

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.