Deroy & Devereaux Private Investment Counsel Inc. Trims Holdings in Apple Hospitality REIT, Inc. $APLE

Key Points

• Deroy & Devereaux cut its stake in Apple Hospitality REIT (NYSE:APLE) by 94.7%, selling 256,632 shares and retaining 14,400 shares worth about $171,000 at quarter end.
• Other institutions materially increased positions — UBS holds roughly 2.94 million shares and Millennium Management grew its stake by 763.8% to about 648,487 shares — and institutional ownership totals 89.66%.
• Apple Hospitality missed Q4 EPS estimates ($0.13 vs. $0.29 expected) while reporting a monthly dividend that yields ~7.4% with a payout ratio near 129.7%, and analysts' consensus rating is "Hold" with a $12.64 target.

Deroy & Devereaux Private Investment Counsel Inc. lessened its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 94.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,400 shares of the real estate investment trust's stock after selling 256,632 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Apple Hospitality REIT were worth $171,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UBS Group AG grew its holdings in shares of Apple Hospitality REIT by 94.3% during the 3rd quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust's stock worth $35,255,000 after acquiring an additional 1,424,287 shares during the period. Millennium Management LLC grew its holdings in shares of Apple Hospitality REIT by 763.8% during the 3rd quarter. Millennium Management LLC now owns 648,487 shares of the real estate investment trust's stock worth $7,788,000 after acquiring an additional 573,410 shares during the period. Bank of America Corp DE grew its holdings in shares of Apple Hospitality REIT by 42.6% during the 2nd quarter. Bank of America Corp DE now owns 1,904,629 shares of the real estate investment trust's stock worth $22,227,000 after acquiring an additional 569,109 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Apple Hospitality REIT during the 3rd quarter worth approximately $5,129,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Apple Hospitality REIT by 31.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,772,663 shares of the real estate investment trust's stock worth $21,290,000 after acquiring an additional 421,876 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $13.00 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $3.07 billion, a P/E ratio of 17.56 and a beta of 0.82. The stock's 50 day moving average is $12.09 and its 200 day moving average is $11.94. Apple Hospitality REIT, Inc. has a twelve month low of $10.85 and a twelve month high of $13.27.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.16). The company had revenue of $326.44 million during the quarter, compared to analysts' expectations of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 7.4%. Apple Hospitality REIT's dividend payout ratio is presently 129.73%.

Analysts Set New Price Targets

APLE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on Apple Hospitality REIT in a report on Thursday, March 26th. They set a "neutral" rating and a $13.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $14.00 target price on shares of Apple Hospitality REIT in a report on Tuesday, March 3rd. Barclays reduced their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company reduced their target price on Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.64.

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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