Franklin Resources Inc. Sells 241,012 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Franklin Resources Inc. reduced its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 66.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,812 shares of the real estate investment trust’s stock after selling 241,012 shares during the quarter. Franklin Resources Inc. owned 0.05% of Apple Hospitality REIT worth $1,826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APLE. Quarry LP boosted its stake in Apple Hospitality REIT by 127.5% in the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC increased its stake in Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 780 shares during the last quarter. Headlands Technologies LLC lifted its position in shares of Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 5,420 shares during the last quarter. Palouse Capital Management Inc. bought a new position in Apple Hospitality REIT in the second quarter valued at about $99,000. Finally, Covestor Ltd raised its stake in Apple Hospitality REIT by 30.0% during the third quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 1,831 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a 50 day moving average price of $15.62 and a two-hundred day moving average price of $14.92. Apple Hospitality REIT, Inc. has a 52 week low of $13.60 and a 52 week high of $17.10. The firm has a market capitalization of $3.78 billion, a P/E ratio of 18.54 and a beta of 1.13.

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

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Tuesday, December 31st. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APLE. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price on the stock. Oppenheimer reiterated 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 decreased 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 raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $16.80.

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.