ProShare Advisors LLC Sells 10,021 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

ProShare Advisors LLC reduced its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 23.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 33,404 shares of the real estate investment trust’s stock after selling 10,021 shares during the quarter. ProShare Advisors LLC’s holdings in Apple Hospitality REIT were worth $486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in shares of Apple Hospitality REIT during the 2nd quarter worth approximately $26,000. YHB Investment Advisors Inc. acquired a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at $37,000. Fortis Group Advisors LLC increased its stake in shares of Apple Hospitality REIT by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,493 shares during the last quarter. Covestor Ltd raised its holdings in shares of Apple Hospitality REIT by 115.6% during the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,313 shares in the last quarter. Finally, 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. 89.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated 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 owns 636,990 shares in the company, valued at approximately $8,943,339.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APLE. Wells Fargo & Company lowered their target price 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, September 13th. Wedbush initiated coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target on the stock. Finally, Oppenheimer dropped their price objective on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and an average target price of $16.25.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $14.85 on Tuesday. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 17.26 and a beta of 1.12. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $14.45 and its 200-day moving average price is $14.81. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its 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 business had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.47%. Apple Hospitality REIT’s payout ratio is 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.