HGK Asset Management Inc. trimmed its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,653 shares of the real estate investment trust’s stock after selling 934 shares during the period. HGK Asset Management Inc.’s holdings in Apple Hospitality REIT were worth $499,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in APLE. Janney Montgomery Scott LLC grew its position in Apple Hospitality REIT by 23.4% in the first quarter. Janney Montgomery Scott LLC now owns 26,543 shares of the real estate investment trust’s stock valued at $507,000 after acquiring an additional 5,036 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Apple Hospitality REIT by 0.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,820 shares of the real estate investment trust’s stock valued at $455,000 after acquiring an additional 197 shares during the period. Great West Life Assurance Co. Can grew its position in Apple Hospitality REIT by 5.2% in the first quarter. Great West Life Assurance Co. Can now owns 95,171 shares of the real estate investment trust’s stock valued at $1,816,000 after acquiring an additional 4,725 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Apple Hospitality REIT by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 152,503 shares of the real estate investment trust’s stock valued at $2,913,000 after acquiring an additional 1,443 shares during the period. Finally, First Trust Advisors LP grew its position in Apple Hospitality REIT by 31.0% in the first quarter. First Trust Advisors LP now owns 191,747 shares of the real estate investment trust’s stock valued at $3,662,000 after acquiring an additional 45,346 shares during the period. Hedge funds and other institutional investors own 49.18% of the company’s stock.

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APLE has been the topic of a number of analyst reports. Canaccord Genuity reiterated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. BidaskClub cut Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. Finally, Robert W. Baird restated an “outperform” rating and set a $21.00 target price on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.75.

In other news, insider Justin G. Knight acquired 17,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average price of $17.62 per share, for a total transaction of $299,540.00. Following the transaction, the insider now directly owns 1,005,274 shares of the company’s stock, valued at approximately $17,712,927.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Glade M. Knight acquired 20,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $17.62 per share, for a total transaction of $352,400.00. Following the transaction, the chairman now directly owns 10,041,357 shares in the company, valued at $176,928,710.34. The disclosure for this purchase can be found here. In the last quarter, insiders bought 45,000 shares of company stock worth $794,950. Corporate insiders own 6.30% of the company’s stock.

Shares of Apple Hospitality REIT, Inc. (NYSE:APLE) traded up 0.403% during mid-day trading on Tuesday, hitting $18.665. The stock had a trading volume of 84,834 shares. Apple Hospitality REIT, Inc. has a 52 week low of $17.32 and a 52 week high of $20.68. The firm has a market cap of $4.16 billion, a PE ratio of 22.652 and a beta of 0.60. The stock has a 50 day moving average price of $18.07 and a 200 day moving average price of $18.72.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The business had revenue of $331.70 million during the quarter, compared to the consensus estimate of $335.94 million. During the same quarter in the previous year, the business posted $0.52 EPS. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. Equities research analysts expect that Apple Hospitality REIT, Inc. will post $1.03 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, September 18th. Stockholders of record on Tuesday, September 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 6.46%. Apple Hospitality REIT’s payout ratio is 150.00%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.

Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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