Dakota Wealth Management Reduces Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Dakota Wealth Management decreased its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 14.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 240,774 shares of the real estate investment trust’s stock after selling 39,612 shares during the period. Dakota Wealth Management’s holdings in Apple Hospitality REIT were worth $3,501,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in APLE. Vanguard Group Inc. grew its position in shares of Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after buying an additional 1,217,142 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Apple Hospitality REIT by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock valued at $121,192,000 after buying an additional 253,082 shares during the period. Principal Financial Group Inc. raised its stake in Apple Hospitality REIT by 3.5% in the first quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock worth $119,553,000 after buying an additional 247,110 shares in the last quarter. Norges Bank purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $36,260,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Apple Hospitality REIT by 47.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock worth $34,977,000 after acquiring an additional 678,905 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Down 1.6 %

APLE stock traded down $0.23 during midday trading on Tuesday, hitting $14.15. The company’s stock had a trading volume of 717,847 shares, compared to its average volume of 2,104,632. The firm’s 50-day moving average is $14.47 and its 200-day moving average is $15.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.90. The company has a market cap of $3.43 billion, a PE ratio of 16.51 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The business had revenue of $390.08 million for the quarter, compared to the consensus estimate of $388.82 million. During the same period in the previous year, the company earned $0.49 earnings per share. On average, equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.78%. Apple Hospitality REIT’s payout ratio is 111.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on APLE shares. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Wedbush assumed coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective for the company. Finally, Oppenheimer cut their target price on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now owns 636,990 shares in the company, valued at approximately $8,943,339.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is owned by insiders.

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.