VIRGINIA RETIREMENT SYSTEMS ET Al Sells 137,300 Shares of Apple Hospitality REIT, Inc. $APLE

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 33.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 272,700 shares of the real estate investment trust’s stock after selling 137,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.12% of Apple Hospitality REIT worth $3,275,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LSV Asset Management boosted its holdings in shares of Apple Hospitality REIT by 8.8% during the 2nd quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust’s stock valued at $31,990,000 after acquiring an additional 221,976 shares during the last quarter. Systematic Financial Management LP lifted its position in Apple Hospitality REIT by 3.5% during the second quarter. Systematic Financial Management LP now owns 2,255,552 shares of the real estate investment trust’s stock valued at $26,322,000 after purchasing an additional 75,638 shares during the period. Bank of America Corp DE boosted its holdings in Apple Hospitality REIT by 42.6% in the second quarter. Bank of America Corp DE now owns 1,904,629 shares of the real estate investment trust’s stock worth $22,227,000 after purchasing an additional 569,109 shares during the last quarter. Centerbridge Partners L.P. bought a new stake in Apple Hospitality REIT in the 2nd quarter worth approximately $22,147,000. Finally, Ameriprise Financial Inc. grew its position in Apple Hospitality REIT by 26.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,781,420 shares of the real estate investment trust’s stock worth $20,789,000 after purchasing an additional 374,979 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of $11.91 per share, with a total value of $59,550.00. Following the completion of the purchase, the chairman directly owned 710,344 shares in the company, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 8,000 shares of company stock valued at $95,180 in the last three months. Corporate insiders own 7.10% of the company’s stock.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $11.85 on Friday. The stock has a 50-day simple moving average of $11.78 and a two-hundred day simple moving average of $12.02. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.06 and a current ratio of 0.06. The firm has a market capitalization of $2.80 billion, a PE ratio of 16.23 and a beta of 0.85.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The firm had revenue of $373.88 million for the quarter, compared to the consensus estimate of $371.94 million. Apple Hospitality REIT had a return on equity of 5.46% and a net margin of 12.37%. Analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Wednesday, December 31st. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on APLE shares. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Wells Fargo & Company raised Apple Hospitality REIT to a “hold” rating in a report on Friday, October 3rd. Cantor Fitzgerald initiated coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price on the stock. Robert W. Baird cut their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a research note on Tuesday, November 4th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.70.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.