Congress Asset Management Co. Sells 27,703 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Congress Asset Management Co. lessened its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 467,388 shares of the real estate investment trust's stock after selling 27,703 shares during the period. Congress Asset Management Co. owned 0.19% of Apple Hospitality REIT worth $6,034,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APLE. Aster Capital Management DIFC Ltd bought a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $31,000. Versant Capital Management Inc lifted 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 purchasing an additional 2,386 shares during the last quarter. Quarry LP boosted its stake in 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 purchasing an additional 1,751 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Apple Hospitality REIT in the 4th quarter valued at $51,000. Finally, GF Fund Management CO. LTD. acquired a new position in Apple Hospitality REIT in the 4th quarter valued at $64,000. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

NYSE APLE traded down $0.04 during midday trading on Thursday, hitting $11.61. The company had a trading volume of 4,018,181 shares, compared to its average volume of 2,300,842. The company has a market capitalization of $2.76 billion, a PE ratio of 13.66 and a beta of 1.04. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $11.70 and a 200-day moving average price of $13.80. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly 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. The company had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. As a group, analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a may 25 dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.08 dividend. This represents a yield of 8.3%. The ex-dividend date is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio is currently 121.52%.

Insider Activity

In other news, Chairman Glade M. Knight acquired 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the purchase, the chairman now directly owns 700,344 shares of the company's stock, valued at $8,004,931.92. The trade was a 1.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 12,000 shares of company stock worth $137,120. 7.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $14.00 to $12.00 in a research note on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.75.

Apple Hospitality REIT 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.