IFM Investors Pty Ltd Sells 9,871 Shares of Apple Hospitality REIT, Inc. $APLE

IFM Investors Pty Ltd trimmed its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 21.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,916 shares of the real estate investment trust’s stock after selling 9,871 shares during the quarter. IFM Investors Pty Ltd’s holdings in Apple Hospitality REIT were worth $419,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of APLE. Victory Capital Management Inc. raised its position in shares of Apple Hospitality REIT by 9.4% in the first quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust’s stock valued at $95,552,000 after purchasing an additional 633,688 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 1.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,401,005 shares of the real estate investment trust’s stock worth $82,637,000 after buying an additional 80,591 shares during the period. Nuveen LLC acquired a new position in Apple Hospitality REIT in the 1st quarter valued at about $40,841,000. LSV Asset Management raised its holdings in Apple Hospitality REIT by 2.1% in the 1st quarter. LSV Asset Management now owns 2,519,277 shares of the real estate investment trust’s stock valued at $32,524,000 after acquiring an additional 52,734 shares during the period. Finally, Systematic Financial Management LP raised its holdings in Apple Hospitality REIT by 0.8% in the 1st quarter. Systematic Financial Management LP now owns 2,179,914 shares of the real estate investment trust’s stock valued at $28,143,000 after acquiring an additional 16,456 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the transaction, the chairman owned 705,344 shares of the company’s stock, valued at $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 7.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Apple Hospitality REIT Price Performance

APLE stock opened at $12.34 on Wednesday. The company’s 50-day moving average price is $12.43 and its two-hundred day moving average price is $12.19. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.92 billion, a P/E ratio of 16.45 and a beta of 1.05.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a oct 25 dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 30th. This represents a yield of 758.0%. Apple Hospitality REIT’s payout ratio is currently 128.00%.

Apple Hospitality REIT 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.