Rafferty Asset Management LLC grew its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,119 shares of the real estate investment trust’s stock after purchasing an additional 1,338 shares during the period. Rafferty Asset Management LLC’s holdings in Apple Hospitality REIT were worth $582,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schroder Investment Management Group bought a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $102,000. Public Employees Retirement Association of Colorado increased its holdings in Apple Hospitality REIT by 26.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,393 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in Apple Hospitality REIT during the 1st quarter worth approximately $125,000. IMS Capital Management bought a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $140,000. Finally, Ffcm LLC increased its holdings in Apple Hospitality REIT by 353.1% during the 2nd quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 6,526 shares in the last quarter. 49.18% of the stock is owned by hedge funds and other institutional investors.

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In other news, Director Redd Hugh purchased 2,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average price of $17.96 per share, with a total value of $35,920.00. Following the completion of the transaction, the director now directly owns 59,495 shares of the company’s stock, valued at $1,068,530.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Glade M. Knight purchased 20,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $17.62 per share, with a total value of $352,400.00. Following the transaction, the chairman now directly owns 10,041,357 shares of the company’s stock, valued at $176,928,710.34. The disclosure for this purchase can be found here. Insiders have purchased 45,000 shares of company stock valued at $794,950 in the last three months. 6.30% of the stock is owned by insiders.

Apple Hospitality REIT, Inc. (NYSE APLE) opened at 18.78 on Thursday. Apple Hospitality REIT, Inc. has a 12-month low of $17.32 and a 12-month high of $20.68. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 22.79 and a beta of 0.60. The stock has a 50 day moving average price of $18.17 and a 200 day moving average price of $18.68.

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

The company also recently declared a monthly dividend, which will be paid on Monday, October 16th. Investors of record on Wednesday, October 4th will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Tuesday, October 3rd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 150.00%.

A number of analysts have commented on the company. BidaskClub raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Robert W. Baird reissued an “outperform” rating and set a $21.00 price objective on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Finally, Canaccord Genuity reissued a “hold” rating and set a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $20.75.

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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