Congress Asset Management Co. Has $5.56 Million Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Congress Asset Management Co. decreased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 374,408 shares of the real estate investment trust’s stock after selling 3,793 shares during the period. Congress Asset Management Co. owned 0.15% of Apple Hospitality REIT worth $5,560,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Apple Hospitality REIT by 3.5% during 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 purchasing an additional 1,217,142 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Apple Hospitality REIT by 17.2% during the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after buying an additional 881,217 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of Apple Hospitality REIT by 400.8% in the second quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after acquiring an additional 511,100 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Apple Hospitality REIT by 911.1% in the second quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock valued at $5,648,000 after acquiring an additional 350,000 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its position in Apple Hospitality REIT by 3,768.4% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after acquiring an additional 339,156 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $14.69 on Friday. The firm has a 50 day moving average of $14.74 and a 200-day moving average of $14.64. Apple Hospitality REIT, Inc. has a 12 month low of $13.60 and a 12 month high of $17.90. 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 stock has a market capitalization of $3.56 billion, a PE ratio of 16.69 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share 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 the consensus estimate of $388.82 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 109.09%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price target on shares of Apple Hospitality REIT in a research note on Friday, October 4th. Finally, Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.25.

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.