Bank of New York Mellon Corp Has $20.49 Million Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Bank of New York Mellon Corp lessened its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,587,367 shares of the real estate investment trust’s stock after selling 62,932 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.66% of Apple Hospitality REIT worth $20,493,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc increased its stake in Apple Hospitality REIT by 569.5% in the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 2,386 shares during the last quarter. Quarry LP increased its stake in shares of Apple Hospitality REIT by 128.1% during the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 1,751 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Apple Hospitality REIT in the 4th quarter worth approximately $51,000. Finally, GF Fund Management CO. LTD. bought a new position in Apple Hospitality REIT in the 4th quarter valued at $64,000. Institutional investors own 89.66% of the company’s stock.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $11.43 per share, with a total value of $114,300.00. Following the transaction, 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 filing with the SEC, which can be accessed through this link. In the last three months, insiders bought 12,000 shares of company stock valued at $137,120. 7.10% of the stock is owned by insiders.

Apple Hospitality REIT Stock Performance

APLE opened at $12.29 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a fifty day moving average price of $11.86 and a 200 day moving average price of $13.08. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The stock has a market cap of $2.92 billion, a P/E ratio of 15.55 and a beta of 1.04.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $332.86 million. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date of this dividend was Monday, June 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 121.52%.

Wall Street Analysts Forecast Growth

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

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.