Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Allstate Corp

Allstate Corp decreased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 65,980 shares of the real estate investment trust’s stock after selling 5,894 shares during the quarter. Allstate Corp’s holdings in Apple Hospitality REIT were worth $1,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APLE. Inspire Advisors LLC increased its position in shares of Apple Hospitality REIT by 8.5% during the 4th quarter. Inspire Advisors LLC now owns 14,502 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,137 shares during the last quarter. Keybank National Association OH boosted its stake in Apple Hospitality REIT by 3.1% during the fourth quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust’s stock worth $617,000 after buying an additional 1,218 shares during the period. Hudson Edge Investment Partners Inc. raised its stake in shares of Apple Hospitality REIT by 4.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 27,079 shares of the real estate investment trust’s stock valued at $416,000 after acquiring an additional 1,272 shares during the period. Xponance Inc. raised its stake in shares of Apple Hospitality REIT by 9.5% in the 4th quarter. Xponance Inc. now owns 16,341 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 1,413 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of Apple Hospitality REIT by 14.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 1,490 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $17.00 in a research report on Monday, January 27th. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Stock Down 1.0 %

Shares of NYSE APLE opened at $12.86 on Monday. Apple Hospitality REIT, Inc. has a 12-month low of $12.69 and a 12-month high of $16.51. The stock has a market cap of $3.08 billion, a P/E ratio of 15.12 and a beta of 1.12. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $14.61 and its 200-day simple moving average is $15.07.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. As a group, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio is presently 109.09%.

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.