Apple Hospitality REIT, Inc. $APLE Position Decreased by Charles Schwab Investment Management Inc.

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. lessened its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. increased its stake in Apple Hospitality REIT by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock valued at $14,350,000 after buying an additional 28,778 shares during the period. Deutsche Bank AG increased its stake in Apple Hospitality REIT by 20.9% during the 4th quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock valued at $6,019,000 after buying an additional 67,896 shares during the period. Asset Management One Co. Ltd. increased its stake in Apple Hospitality REIT by 24.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust's stock valued at $6,214,000 after buying an additional 95,606 shares during the period. Sound Income Strategies LLC increased its stake in Apple Hospitality REIT by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust's stock valued at $13,127,000 after buying an additional 108,833 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in Apple Hospitality REIT by 1,511.3% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 145,014 shares of the real estate investment trust's stock valued at $2,226,000 after buying an additional 136,014 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE traded down $0.0350 during trading hours on Wednesday, hitting $12.3650. 2,247,232 shares of the company's stock traded hands, compared to its average volume of 3,280,296. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. The company's fifty day simple moving average is $12.03 and its two-hundred day simple moving average is $12.59. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 16.49 and a beta of 1.08.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, August 29th. This represents a dividend yield of 780.0%. Apple Hospitality REIT's dividend payout ratio (DPR) is 128.00%.

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 lowered their target price for the company from $14.00 to $12.00 in a research note on Monday, June 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

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.