Charles Schwab Investment Management Inc. Cuts Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Charles Schwab Investment Management Inc. has reduced its stake in Apple Hospitality REIT by 1.7%, holding approximately 4.5 million shares worth $58.25 million after selling 78,621 shares in the first quarter.
• BMO Capital Markets downgraded Apple Hospitality REIT's rating from "outperform" to "market perform", with a revised price target of $12.00, down from $14.00.
• The company reported $0.47 earnings per share for the last quarter, meeting analyst expectations, while also declaring a dividend of $0.08 per share with a dividend payout ratio of 128.00%.

Charles Schwab Investment Management Inc. lowered its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,511,947 shares of the real estate investment trust's stock after selling 78,621 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.90% of Apple Hospitality REIT worth $58,249,000 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. Versant Capital Management Inc grew its holdings in Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 2,386 shares in the last quarter. Quarry LP boosted its holdings in shares of Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,751 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at $64,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at $92,000. Finally, Blue Trust Inc. boosted its holdings in shares of Apple Hospitality REIT by 16.9% in the 1st quarter. Blue Trust Inc. now owns 9,934 shares of the real estate investment trust's stock valued at $128,000 after buying an additional 1,438 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $14.00 to $12.00 in a report on Monday, June 9th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock traded up $0.1450 during trading hours on Tuesday, reaching $12.3750. 1,356,971 shares of the stock were exchanged, compared to its average volume of 2,856,693. The stock has a market cap of $2.93 billion, a P/E ratio of 16.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50. The firm's 50 day moving average is $12.01 and its 200 day moving average is $12.59.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. The company had revenue of $384.37 million during the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. Analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.08 per share. Apple Hospitality REIT's payout ratio is currently 128.00%.

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.