BlackRock Inc. Has $248.41 Million Stake in Apple Hospitality REIT, Inc. (APLE)
BlackRock Inc. lifted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 10.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,276,704 shares of the real estate investment trust’s stock after buying an additional 1,282,080 shares during the period. BlackRock Inc. owned about 5.95% of Apple Hospitality REIT worth $248,408,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of APLE. Bank of New York Mellon Corp lifted its stake in shares of Apple Hospitality REIT by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 1,278,318 shares of the real estate investment trust’s stock worth $24,416,000 after buying an additional 83,872 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Apple Hospitality REIT by 28.9% in the first quarter. UBS Asset Management Americas Inc. now owns 423,193 shares of the real estate investment trust’s stock worth $8,083,000 after buying an additional 94,974 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Apple Hospitality REIT in the first quarter worth approximately $1,390,000. Parametric Portfolio Associates LLC lifted its stake in shares of Apple Hospitality REIT by 10.8% in the first quarter. Parametric Portfolio Associates LLC now owns 261,754 shares of the real estate investment trust’s stock worth $5,000,000 after buying an additional 25,477 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new position in shares of Apple Hospitality REIT in the first quarter worth approximately $125,000. Hedge funds and other institutional investors own 49.18% of the company’s stock.
Apple Hospitality REIT, Inc. (NYSE:APLE) opened at 18.86 on Thursday. The company has a market cap of $4.21 billion, a P/E ratio of 22.89 and a beta of 0.61. Apple Hospitality REIT, Inc. has a 12 month low of $17.32 and a 12 month high of $20.68. The company’s 50-day moving average is $18.40 and its 200-day moving average is $18.67.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The firm had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $335.94 million. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post $1.03 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Stockholders of record on Wednesday, October 4th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date is Tuesday, October 3rd. Apple Hospitality REIT’s payout ratio is currently 150.00%.
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In related news, Director Redd Hugh bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $17.96 per share, for a total transaction of $35,920.00. Following the purchase, the director now directly owns 59,495 shares of the company’s stock, valued at $1,068,530.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Glade M. Knight bought 20,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $17.62 per share, with a total value of $352,400.00. Following the completion of the purchase, 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 ninety days, insiders bought 45,000 shares of company stock worth $794,950. Insiders own 6.30% of the company’s stock.
Several research analysts have recently issued reports on APLE shares. Canaccord Genuity reiterated a “hold” rating and issued a $19.00 target price (down previously from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. BidaskClub downgraded shares of Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $21.00 target price on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.00.
Apple Hospitality REIT Company Profile
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 September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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