Millennium Management LLC Has $898,000 Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Millennium Management LLC trimmed its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 56.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,474 shares of the real estate investment trust's stock after selling 76,926 shares during the period. Millennium Management LLC's holdings in Apple Hospitality REIT were worth $898,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT in the 4th quarter valued at $31,000. Quarry LP boosted its position in Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,751 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of Apple Hospitality REIT in the fourth quarter valued at $51,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Apple Hospitality REIT in the fourth quarter valued at $92,000. Finally, Quadrant Capital Group LLC raised its position in shares of Apple Hospitality REIT by 20.1% in the fourth quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 1,128 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT has an average rating of "Moderate Buy" and an average target price of $17.25.

Apple Hospitality REIT Stock Performance

APLE stock traded up $0.19 during trading hours on Friday, hitting $11.76. 2,806,977 shares of the stock were exchanged, compared to its average volume of 2,289,305. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.80 billion, a P/E ratio of 13.84 and a beta of 1.07. The company has a 50-day simple moving average of $11.74 and a two-hundred day simple moving average of $13.90.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $327.70 million for the quarter, compared to the consensus estimate of $332.86 million. On average, analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a may 25 dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a dividend yield of 8.3%. Apple Hospitality REIT's payout ratio is presently 121.52%.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the transaction, the chairman now owns 700,344 shares of the company's stock, valued at approximately $8,004,931.92. This trade represents a 1.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 12,000 shares of company stock valued at $137,120. 7.10% of the stock is currently owned by company insiders.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc NYSE: APLE is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.