Honeywell International Inc. Invests $1.05 Million in Apple Hospitality REIT, Inc. (NYSE:APLE)

Honeywell International Inc. acquired a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 55,835 shares of the real estate investment trust’s stock, valued at approximately $1,045,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Apple Hospitality REIT by 16.5% in the first quarter. Vanguard Group Inc. now owns 32,734,825 shares of the real estate investment trust’s stock worth $625,236,000 after buying an additional 4,627,374 shares during the period. BlackRock Inc. boosted its position in Apple Hospitality REIT by 3,420.4% in the first quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock worth $229,099,000 after buying an additional 11,653,910 shares during the period. State Street Corp boosted its position in Apple Hospitality REIT by 2.4% in the first quarter. State Street Corp now owns 5,426,542 shares of the real estate investment trust’s stock worth $103,644,000 after buying an additional 128,765 shares during the period. Dimensional Fund Advisors LP boosted its position in Apple Hospitality REIT by 155.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock worth $48,531,000 after buying an additional 1,547,960 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Apple Hospitality REIT by 38.0% in the first quarter. Wells Fargo & Company MN now owns 2,507,835 shares of the real estate investment trust’s stock worth $47,901,000 after buying an additional 690,453 shares during the period. 47.90% of the stock is currently owned by institutional investors.

Apple Hospitality REIT, Inc. (NYSE:APLE) traded down 0.61% during midday trading on Friday, hitting $17.92. 962,934 shares of the company were exchanged. The firm has a market capitalization of $4.00 billion, a PE ratio of 21.75 and a beta of 0.60. The stock has a 50 day moving average of $18.30 and a 200 day moving average of $18.97. Apple Hospitality REIT, Inc. has a 1-year low of $17.32 and a 1-year high of $20.68.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by $0.01. Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The business had revenue of $331.70 million for the quarter, compared to the consensus estimate of $335.94 million. During the same period in the previous year, the firm earned $0.52 EPS. The company’s revenue was up 28.7% on a year-over-year basis. On average, equities analysts predict that Apple Hospitality REIT, Inc. will post $0.98 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, August 15th. Investors of record on Thursday, August 3rd were paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend was Tuesday, August 1st. Apple Hospitality REIT’s payout ratio is currently 150.00%.

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A number of equities analysts have recently issued reports on APLE shares. Canaccord Genuity reissued a “hold” rating and set a $20.00 price objective on shares of Apple Hospitality REIT in a research report on Monday, May 8th. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. BidaskClub cut shares of Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Robert W. Baird reissued an “outperform” rating and set a $21.00 price objective on shares of Apple Hospitality REIT in a research report on Tuesday, July 4th. Finally, FBR & Co restated a “hold” rating on shares of Apple Hospitality REIT in a report on Saturday, May 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Apple Hospitality REIT has an average rating of “Hold” and a consensus price target of $19.20.

In other news, insider Justin G. Knight bought 17,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $17.62 per share, with a total value of $299,540.00. Following the completion of the acquisition, the insider now owns 1,005,274 shares of the company’s stock, valued at $17,712,927.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Glade M. Knight bought 20,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $17.62 per share, with a total value of $352,400.00. Following the completion of the acquisition, the chairman now directly owns 10,041,357 shares of the company’s stock, valued at approximately $176,928,710.34. The disclosure for this purchase can be found here. Insiders have purchased 48,800 shares of company stock worth $873,082 in the last three months. 6.40% of the stock is currently owned by insiders.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.

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

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