Northern Trust Corp Has $41.41 Million Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Northern Trust Corp reduced its stake in Apple Hospitality REIT by 1.6% during Q1, owning 3,207,205 shares valued at approximately $41.41 million.
• Analysts have assigned a consensus rating of "Moderate Buy" for Apple Hospitality REIT, with a consensus target price of $15.00, even as BMO Capital Markets lowered their price target from $14.00 to $12.00.
• Apple Hospitality REIT announced a $0.08 dividend to be paid on September 15, alongside reporting quarterly earnings meeting estimates with a revenue of $384.37 million.

Northern Trust Corp lowered its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,207,205 shares of the real estate investment trust's stock after selling 52,296 shares during the quarter. Northern Trust Corp owned approximately 1.35% of Apple Hospitality REIT worth $41,405,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in APLE. Nuveen LLC bought a new stake in shares of Apple Hospitality REIT during the first quarter worth $40,841,000. Victory Capital Management Inc. increased its holdings in Apple Hospitality REIT by 9.4% in the first quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust's stock valued at $95,552,000 after purchasing an additional 633,688 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Apple Hospitality REIT by 59.3% in the first quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust's stock valued at $18,753,000 after purchasing an additional 540,957 shares during the last quarter. Woodline Partners LP bought a new stake in Apple Hospitality REIT in the fourth quarter valued at about $5,898,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Apple Hospitality REIT in the fourth quarter valued at about $4,293,000. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Trading Up 0.6%

NYSE:APLE traded up $0.08 on Wednesday, reaching $12.90. The company's stock had a trading volume of 2,031,393 shares, compared to its average volume of 2,975,461. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year 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 firm has a market cap of $3.06 billion, a PE ratio of 17.19 and a beta of 1.05. The business's 50-day moving average price is $12.29 and its two-hundred day moving average price is $12.41.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The firm had revenue of $384.37 million during the quarter, compared to analysts' expectations of $381.37 million. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.08 dividend. This represents a yield of 735.0%. The ex-dividend date of this dividend is Friday, August 29th. Apple Hospitality REIT's payout ratio is presently 128.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on APLE shares. Wells Fargo & Company upped their price objective on Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $14.00 to $12.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $12.29 per share, with a total value of $61,450.00. Following the completion of the purchase, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.10% of the company's stock.

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.