KBC Group NV Has $155,000 Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

KBC Group NV boosted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 29.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,025 shares of the real estate investment trust’s stock after purchasing an additional 2,768 shares during the period. KBC Group NV’s holdings in Apple Hospitality REIT were worth $155,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APLE. Proficio Capital Partners LLC acquired a new stake in Apple Hospitality REIT during the 4th quarter worth about $167,000. Charles Schwab Investment Management Inc. grew its holdings in Apple Hospitality REIT by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock worth $70,465,000 after acquiring an additional 133,505 shares during the period. Keybank National Association OH grew its holdings in Apple Hospitality REIT by 3.1% during the 4th quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust’s stock worth $617,000 after acquiring an additional 1,218 shares during the period. Raymond James Financial Inc. acquired a new stake in Apple Hospitality REIT during the 4th quarter worth about $3,844,000. Finally, PNC Financial Services Group Inc. grew its holdings in Apple Hospitality REIT by 7.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,600 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 1,711 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Up 0.1%

NYSE:APLE opened at $12.12 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 15.34 and a beta of 1.04. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50. The firm has a 50-day moving average price of $11.74 and a two-hundred day moving average price of $13.25.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 13.38% and a return on equity of 5.84%. The company had revenue of $327.70 million during the quarter, compared to analyst estimates of $332.86 million. On average, equities analysts expect 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 declared a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 30th. This represents a $0.96 annualized dividend and a dividend yield of 7.92%. Apple Hospitality REIT’s payout ratio is currently 121.52%.

Insider Activity

In related news, Chairman Glade M. Knight purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $11.43 per share, for a total transaction of $114,300.00. Following the purchase, the chairman directly owned 700,344 shares in the company, valued at approximately $8,004,931.92. This trade represents a 1.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have purchased 12,000 shares of company stock worth $137,120. Company insiders own 7.10% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $14.00 to $12.00 in a research report on Monday, June 9th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.75.

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.