Citigroup Inc. Sells 148,405 Shares of Apple Hospitality REIT, Inc. $APLE

Citigroup Inc. decreased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 40.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 221,365 shares of the real estate investment trust’s stock after selling 148,405 shares during the quarter. Citigroup Inc. owned 0.09% of Apple Hospitality REIT worth $2,659,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in APLE. NewEdge Advisors LLC raised its position in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares during the period. Hantz Financial Services Inc. grew its position in shares of Apple Hospitality REIT by 12,230.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 2,446 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Apple Hospitality REIT in the 3rd quarter worth $34,000. Finally, Smartleaf Asset Management LLC raised its holdings in Apple Hospitality REIT by 97.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,872 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Down 1.9%

Shares of Apple Hospitality REIT stock opened at $12.16 on Friday. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $14.71. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $12.19 and a 200-day moving average price of $12.08. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 16.43 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). The business had revenue of $326.44 million during the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Friday, February 27th. Apple Hospitality REIT’s dividend payout ratio is 129.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Barclays began coverage on shares of Apple Hospitality REIT in a report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target on shares of Apple Hospitality REIT in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and an average price target of $12.92.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was purchased at an average cost of $11.91 per share, with a total value of $59,550.00. Following the completion of the purchase, the chairman owned 710,344 shares of the company’s stock, valued at $8,460,197.04. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.10% of the stock is owned by company insiders.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.