Bank of New York Mellon Corp Sells 62,932 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Bank of New York Mellon Corp lessened its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 3.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,587,367 shares of the real estate investment trust's stock after selling 62,932 shares during the period. Bank of New York Mellon Corp owned about 0.66% of Apple Hospitality REIT worth $20,493,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in APLE. Proficio Capital Partners LLC bought a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $167,000. Raymond James Financial Inc. bought a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $3,844,000. PNC Financial Services Group Inc. lifted its stake in shares of Apple Hospitality REIT by 7.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,600 shares of the real estate investment trust's stock worth $378,000 after purchasing an additional 1,711 shares during the period. HighTower Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 16.1% in the 4th quarter. HighTower Advisors LLC now owns 15,694 shares of the real estate investment trust's stock worth $241,000 after purchasing an additional 2,171 shares during the period. Finally, Avantax Advisory Services Inc. bought a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $679,000. Institutional investors own 89.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.75.

Apple Hospitality REIT Stock Performance

NYSE APLE traded up $0.00 on Monday, reaching $12.34. 1,693,864 shares of the stock were exchanged, compared to its average volume of 2,409,131. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50. The firm has a market capitalization of $2.94 billion, a PE ratio of 15.62 and a beta of 1.04. The company's 50-day simple moving average is $11.87 and its two-hundred day simple moving average is $13.03. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 13.38% and a return on equity of 5.84%. The company had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. Analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.08 per share. This represents a dividend yield of 7.7%. The ex-dividend date of this dividend is Thursday, July 31st. Apple Hospitality REIT's payout ratio is currently 121.52%.

Insider Activity

In related news, Chairman Glade M. Knight acquired 10,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, May 6th. The shares were purchased 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 directly owned 700,344 shares in the company, valued at approximately $8,004,931.92. This represents a 1.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 12,000 shares of company stock worth $137,120 in the last quarter. Company insiders own 7.10% of the company's stock.

About Apple Hospitality REIT

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.