Alliancebernstein L.P. increased its position in Apple Hospitality REIT Inc (NYSE:APLE) by 28.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 648,207 shares of the real estate investment trust’s stock after acquiring an additional 144,792 shares during the period. Alliancebernstein L.P. owned approximately 0.28% of Apple Hospitality REIT worth $11,337,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia grew its position in Apple Hospitality REIT by 70.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 9,193 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 3,793 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Apple Hospitality REIT in the 2nd quarter valued at about $169,000. US Bancorp DE grew its position in Apple Hospitality REIT by 98.9% in the 2nd quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 4,908 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Apple Hospitality REIT in the 2nd quarter valued at about $177,000. Finally, Signition LP bought a new position in Apple Hospitality REIT in the 3rd quarter valued at about $182,000. 56.22% of the stock is currently owned by institutional investors and hedge funds.
In other Apple Hospitality REIT news, insider Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, November 12th. The stock was bought at an average price of $16.22 per share, for a total transaction of $81,100.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Redd Hugh acquired 2,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, November 16th. The shares were acquired at an average price of $15.65 per share, with a total value of $31,300.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 19,624 shares of company stock valued at $313,283. Insiders own 6.30% of the company’s stock.
Shares of APLE opened at $15.64 on Friday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 8.99, a P/E/G ratio of 1.85 and a beta of 0.68. Apple Hospitality REIT Inc has a 52-week low of $15.47 and a 52-week high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.21). The company had revenue of $332.20 million during the quarter, compared to the consensus estimate of $340.17 million. Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. On average, equities analysts forecast that Apple Hospitality REIT Inc will post 1.7 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a $0.10 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 7.67%. Apple Hospitality REIT’s dividend payout ratio is presently 68.97%.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.25.
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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