Bank of New York Mellon Corp Cuts Stock Position in Apple Hospitality REIT, Inc. $APLE

Bank of New York Mellon Corp cut its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,534,394 shares of the real estate investment trust's stock after selling 65,541 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Apple Hospitality REIT worth $17,661,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in APLE. SG Americas Securities LLC grew its position in shares of Apple Hospitality REIT by 91.9% in the 4th quarter. SG Americas Securities LLC now owns 109,512 shares of the real estate investment trust's stock worth $1,298,000 after buying an additional 52,446 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Apple Hospitality REIT by 19.6% during the fourth quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust's stock valued at $4,443,000 after acquiring an additional 61,354 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Apple Hospitality REIT during the first quarter valued at approximately $1,123,000. UBS Group AG lifted its stake in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock worth $55,950,000 after acquiring an additional 1,786,018 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Apple Hospitality REIT in the first quarter worth $702,000. 89.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on APLE. Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Apple Hospitality REIT from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Barclays reissued an "equal weight" rating and issued a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH raised their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Finally, BMO Capital Markets lifted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of "Hold" and an average target price of $16.00.

Apple Hospitality REIT Trading Down 0.2%

Shares of NYSE APLE opened at $16.78 on Thursday. The firm's 50 day moving average price is $16.16 and its 200-day moving average price is $13.76. Apple Hospitality REIT, Inc. has a 52-week low of $10.85 and a 52-week high of $17.13. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $3.96 billion, a PE ratio of 22.99, a P/E/G ratio of 3.30 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.7%. Apple Hospitality REIT's payout ratio is currently 131.51%.

About Apple Hospitality REIT

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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