California Public Employees Retirement System boosted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 10.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 386,100 shares of the real estate investment trust’s stock after acquiring an additional 36,000 shares during the period. California Public Employees Retirement System owned 0.17% of Apple Hospitality REIT worth $7,224,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in shares of Apple Hospitality REIT during the second quarter valued at about $2,145,000. BlackRock Inc. increased its position in shares of Apple Hospitality REIT by 3,420.4% during the first quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock valued at $229,099,000 after buying an additional 11,653,910 shares during the period. Paragon Capital Management Ltd bought a new stake in shares of Apple Hospitality REIT during the second quarter valued at about $234,000. Dimensional Fund Advisors LP increased its position in shares of Apple Hospitality REIT by 155.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock valued at $48,531,000 after buying an additional 1,547,960 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Apple Hospitality REIT by 4.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,361,079 shares of the real estate investment trust’s stock valued at $25,997,000 after buying an additional 55,780 shares during the period. Institutional investors and hedge funds own 49.18% of the company’s stock.
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 company had revenue of $331.70 million during the quarter, compared to the consensus estimate of $335.94 million. During the same period last year, the business earned $0.52 EPS. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year.
The business also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.24%. The ex-dividend date of this dividend is Tuesday, October 3rd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 150.00%.
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Several equities research analysts have recently weighed in on APLE shares. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity reiterated a “hold” rating and set a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. BidaskClub cut Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $21.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $20.00.
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average price of $17.62 per share, with a total value of $352,400.00. Following the purchase, the chairman now owns 10,041,357 shares of the company’s stock, valued at $176,928,710.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin G. Knight bought 17,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $17.62 per share, for a total transaction of $299,540.00. Following the purchase, the insider now directly owns 1,005,274 shares in the company, valued at approximately $17,712,927.88. The disclosure for this purchase can be found here. Insiders bought 45,000 shares of company stock worth $794,950 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.
Apple Hospitality REIT Company Profile
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 September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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