Fifth Third Bancorp Decreases Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Fifth Third Bancorp lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLEFree Report) by 22.7% in the first quarter, Holdings Channel reports. The fund owned 5,087 shares of the real estate investment trust’s stock after selling 1,490 shares during the quarter. Fifth Third Bancorp’s holdings in Apple Hospitality REIT were worth $66,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in APLE. Aster Capital Management DIFC Ltd acquired a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $31,000. Versant Capital Management Inc grew its position in shares of Apple Hospitality REIT by 569.5% during the first quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 2,386 shares in the last quarter. Quarry LP grew its position in shares of Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $51,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $64,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Glade M. Knight acquired 10,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the purchase, the chairman now directly owns 700,344 shares of the company’s stock, valued at $8,004,931.92. This trade represents a 1.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought 12,000 shares of company stock worth $137,120 over the last ninety days. 7.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, BMO Capital Markets downgraded shares of Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $14.00 to $12.00 in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $15.75.

Read Our Latest Stock Analysis on APLE

Apple Hospitality REIT Stock Up 0.1%

APLE stock opened at $11.59 on Friday. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.76 billion, a P/E ratio of 14.67 and a beta of 1.04. The firm has a 50 day simple moving average of $11.72 and a 200-day simple moving average of $13.57.

Apple Hospitality REIT (NYSE:APLEGet Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. The firm had revenue of $327.70 million for the quarter, compared to analysts’ expectations of $332.86 million. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 8.28%. The ex-dividend date is Monday, June 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 121.52%.

Apple Hospitality REIT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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