Amundi Sells 18,713 Shares of Apple Hospitality REIT, Inc. $APLE

Amundi lowered its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 7.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,895 shares of the real estate investment trust’s stock after selling 18,713 shares during the period. Amundi owned 0.09% of Apple Hospitality REIT worth $2,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new stake in Apple Hospitality REIT in the first quarter worth $6,254,000. Royal Bank of Canada increased its position in Apple Hospitality REIT by 2.8% in the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock worth $2,205,000 after purchasing an additional 4,712 shares during the last quarter. Graham Capital Management L.P. bought a new stake in Apple Hospitality REIT in the first quarter worth $1,507,000. Quarry LP increased its position in Apple Hospitality REIT by 64.8% in the first quarter. Quarry LP now owns 5,137 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in Apple Hospitality REIT by 3.9% in the first quarter. Baird Financial Group Inc. now owns 136,174 shares of the real estate investment trust’s stock worth $1,758,000 after purchasing an additional 5,116 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 1.1%

NYSE APLE opened at $12.67 on Friday. The company’s 50-day moving average price is $12.40 and its 200-day moving average price is $12.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The stock has a market cap of $3.00 billion, a PE ratio of 16.89 and a beta of 1.05. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $384.37 million for the quarter, compared to analysts’ expectations of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. Equities research analysts forecast 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 declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.08 dividend. The ex-dividend date is Friday, August 29th. This represents a dividend yield of 735.0%. Apple Hospitality REIT’s dividend payout ratio is presently 128.00%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APLE shares. BMO Capital Markets cut shares of Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $14.00 to $12.00 in a research report on Monday, June 9th. Wells Fargo & Company boosted their price target on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the acquisition, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.10% of the company’s stock.

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.