Teacher Retirement System of Texas raised its stake in shares of Apple Hospitality REIT Inc. (NYSE:APLE) by 14.5% during the second quarter, Holdings Channel reports. The firm owned 23,342 shares of the company’s stock after buying an additional 2,962 shares during the period. Teacher Retirement System of Texas’ holdings in Apple Hospitality REIT were worth $439,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Daiwa Securities Group Inc. raised its position in Apple Hospitality REIT by 1.8% in the second quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the period. Invictus RG acquired a new position in Apple Hospitality REIT during the first quarter valued at approximately $147,000. BlackRock Japan Co. Ltd raised its position in Apple Hospitality REIT by 1.7% in the first quarter. BlackRock Japan Co. Ltd now owns 8,249 shares of the company’s stock valued at $163,000 after buying an additional 140 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Apple Hospitality REIT by 6.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,340 shares of the company’s stock valued at $157,000 after buying an additional 506 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Apple Hospitality REIT during the first quarter valued at approximately $171,000. 33.39% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Hospitality REIT Inc. (NYSE:APLE) traded down 0.44% during mid-day trading on Friday, hitting $18.22. 861,614 shares of the stock were exchanged. The company’s 50-day moving average is $18.83 and its 200-day moving average is $19.07. Apple Hospitality REIT Inc. has a 1-year low of $16.35 and a 1-year high of $20.97. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 26.83 and a beta of 0.62.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 8th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Apple Hospitality REIT had a net margin of 12.67% and a return on equity of 4.47%. The firm earned $257.60 million during the quarter, compared to analysts’ expectations of $254.79 million. During the same period in the prior year, the company earned $0.44 EPS. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Apple Hospitality REIT Inc. will post $1.76 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Stockholders of record on Tuesday, October 4th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date is Friday, September 30th. Apple Hospitality REIT’s dividend payout ratio is 176.47%.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Ladenburg Thalmann reissued a “sell” rating and set a $13.00 target price on shares of Apple Hospitality REIT in a research note on Sunday, September 4th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Apple Hospitality REIT in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.00.
In other Apple Hospitality REIT news, Director Redd Hugh acquired 2,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was bought at an average price of $18.51 per share, for a total transaction of $37,020.00. Following the purchase, the director now owns 25,823 shares in the company, valued at approximately $477,983.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jon A. Fosheim acquired 1,612 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average price of $18.62 per share, with a total value of $30,015.44. Following the purchase, the director now owns 12,435 shares in the company, valued at approximately $231,539.70. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-advised real estate investment trust (REIT) that invests in income-producing real estate, primarily in the lodging sector, in the United States. The Company owns hotel properties throughout the United States. The Company owns approximately 180 hotels operating in over 30 states with an aggregate of approximately 22,960 rooms.
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