Franklin Resources Inc. Lowers Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Franklin Resources Inc. lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 117,590 shares of the real estate investment trust’s stock after selling 4,222 shares during the quarter. Franklin Resources Inc.’s holdings in Apple Hospitality REIT were worth $1,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its holdings in Apple Hospitality REIT by 18.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,959 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 2,030 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Apple Hospitality REIT in the fourth quarter valued at $51,000. Pictet Asset Management Holding SA raised its position in shares of Apple Hospitality REIT by 4.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 70,675 shares of the real estate investment trust’s stock worth $1,085,000 after acquiring an additional 2,759 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Apple Hospitality REIT by 3.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 293,100 shares of the real estate investment trust’s stock worth $4,499,000 after acquiring an additional 9,000 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in Apple Hospitality REIT in the 4th quarter worth about $3,053,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Up 1.5 %

Shares of APLE opened at $11.48 on Monday. The stock has a 50 day moving average price of $13.76 and a 200 day moving average price of $14.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 13.50 and a beta of 1.00. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 8.37%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s payout ratio is currently 109.09%.

Analyst Upgrades and Downgrades

Several analysts have commented on APLE shares. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

About Apple Hospitality REIT

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.