Mutual of America Capital Management LLC Lowers Holdings in Apple Hospitality REIT, Inc. $APLE

Mutual of America Capital Management LLC lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 12.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,423 shares of the real estate investment trust’s stock after selling 4,069 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Apple Hospitality REIT were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its holdings 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 worth $95,552,000 after buying an additional 633,688 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Apple Hospitality REIT by 1.3% in 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 purchasing an additional 80,591 shares in the last quarter. Nuveen LLC purchased a new stake in Apple Hospitality REIT in the 1st quarter worth $40,841,000. LSV Asset Management lifted its stake 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 worth $32,524,000 after purchasing an additional 52,734 shares in the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Apple Hospitality REIT by 0.8% in the first quarter. Systematic Financial Management LP now owns 2,179,914 shares of the real estate investment trust’s stock worth $28,143,000 after buying an additional 16,456 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Down 0.7%

Shares of APLE stock opened at $11.45 on Thursday. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $12.01. The company has a market cap of $2.71 billion, a PE ratio of 15.26 and a beta of 1.02.

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

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Friday, October 31st. Apple Hospitality REIT’s dividend payout ratio is 128.00%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $12.29 per share, with a total value of $61,450.00. Following the transaction, the chairman directly owned 705,344 shares of the company’s stock, valued at $8,668,677.76. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 7.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

APLE has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, October 8th. Cantor Fitzgerald assumed coverage on Apple Hospitality REIT in a report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective on the stock. Finally, Robert W. Baird decreased their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.50.

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.