Bank of New York Mellon Corp Invests $26.77 Million in Apple Hospitality REIT, Inc. $APLE

Key Points

• Bank of New York Mellon acquired 1.59 million Apple Hospitality REIT shares worth approximately $26.77 million, representing about 0.67% of the company. Institutional investors collectively own 89.66% of APLE.
• Apple Hospitality REIT exceeded quarterly expectations, reporting EPS of $0.28 versus the $0.27 consensus and revenue of $402.55 million versus estimates of $391.88 million.
• The REIT declared a monthly dividend of $0.08 per share, implying a 5.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $16.50, near the stock’s $16.54 opening price.

Bank of New York Mellon Corp acquired a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,592,719 shares of the real estate investment trust's stock, valued at approximately $26,774,000. Bank of New York Mellon Corp owned about 0.67% of Apple Hospitality REIT at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APLE. Bank of America Corp DE boosted its stake in Apple Hospitality REIT by 6.0% in the first quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust's stock valued at $23,585,000 after acquiring an additional 115,575 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Apple Hospitality REIT by 19.6% during the 4th quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust's stock valued at $4,443,000 after purchasing an additional 61,354 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Apple Hospitality REIT in the 1st quarter worth $1,123,000. UBS Group AG boosted its position in shares of Apple Hospitality REIT by 60.8% in the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock worth $55,950,000 after purchasing an additional 1,786,018 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Apple Hospitality REIT during the 1st quarter worth $702,000. Hedge funds and other institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE opened at $16.54 on Friday. The company has a 50 day simple moving average of $16.51 and a two-hundred day simple moving average of $14.39. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.16 and a beta of 0.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a 12 month low of $10.85 and a 12 month high of $17.28.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $402.55 million during the quarter, compared to analysts' expectations of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. As a group, analysts predict that Apple Hospitality REIT, Inc. will post 1.64 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend is Monday, August 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 129.73%.

Wall Street Analyst Weigh In

APLE has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH increased their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. boosted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. BMO Capital Markets upped their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, June 12th. Zacks Research lowered shares of Apple Hospitality REIT from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Finally, Barclays reissued an "equal weight" rating and set a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a research report on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.50.

Apple Hospitality REIT Company Profile

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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