Apple Hospitality REIT, Inc. $APLE Position Increased by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. increased its stake in Apple Hospitality REIT by 12.8% in Q2, owning approximately 0.09% of the company after acquiring an additional 23,483 shares.
• Apple Hospitality REIT recently declared a $0.08 dividend with a yield of 735.0% despite a dividend payout ratio of 128.00%.
• Analysts have mixed views on the stock, with ratings ranging from "Buy" to "Market Perform" and a consensus target price of $15.00.

Harbor Capital Advisors Inc. grew its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 12.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,499 shares of the real estate investment trust's stock after purchasing an additional 23,483 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.09% of Apple Hospitality REIT worth $2,422,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Apple Hospitality REIT by 2.7% during the first 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 purchasing an additional 28,778 shares during the period. Asset Management One Co. Ltd. lifted its stake in Apple Hospitality REIT by 24.8% in the first quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust's stock worth $6,214,000 after acquiring an additional 95,606 shares during the period. Sound Income Strategies LLC lifted its stake in Apple Hospitality REIT by 12.0% in the first quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust's stock worth $13,127,000 after acquiring an additional 108,833 shares during the period. KBC Group NV lifted its stake in Apple Hospitality REIT by 29.9% in the first quarter. KBC Group NV now owns 12,025 shares of the real estate investment trust's stock worth $155,000 after acquiring an additional 2,768 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Apple Hospitality REIT in the first quarter worth about $6,254,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APLE has been the subject of a number of recent research reports. BMO Capital Markets downgraded shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $14.00 to $12.00 in a report on Monday, June 9th. Wells Fargo & Company increased their price target on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the acquisition, the chairman owned 705,344 shares of the company's stock, valued at $8,668,677.76. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 7.10% of the company's stock.

Apple Hospitality REIT Price Performance

APLE traded down $0.17 during trading on Friday, reaching $12.49. 6,670,537 shares of the stock were exchanged, compared to its average volume of 2,353,427. The business's 50 day moving average price is $12.44 and its two-hundred day moving average price is $12.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 16.65 and a beta of 1.05. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. As a group, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a oct 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a $0.08 dividend. This represents a dividend yield of 758.0%. The ex-dividend date is Tuesday, September 30th. Apple Hospitality REIT's payout ratio is 128.00%.

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.