Van Lanschot Kempen Investment Management N.V. Lowers Stock Holdings in Apple Hospitality REIT, Inc. $APLE

Key Points

• Van Lanschot Kempen Investment Management N.V. sold 138,333 shares of Apple Hospitality REIT, reducing its stake by 95.4% to just 6,681 shares.
• Apple Hospitality REIT reported earnings of $0.47 per share, matching consensus estimates, with a revenue of $384.37 million for the recent quarter.
• The company announced a $0.08 dividend to be paid on September 15th, representing a yield of 780.0% despite a high payout ratio of 128.00%.

Van Lanschot Kempen Investment Management N.V. lowered its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 95.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,681 shares of the real estate investment trust's stock after selling 138,333 shares during the quarter. Van Lanschot Kempen Investment Management N.V.'s holdings in Apple Hospitality REIT were worth $86,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of APLE. Versant Capital Management Inc boosted its holdings in shares of Apple Hospitality REIT by 569.5% in the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after buying an additional 2,386 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 worth $48,000 after buying an additional 1,751 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth about $64,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth about $92,000. Finally, Blue Trust Inc. boosted its holdings in shares of Apple Hospitality REIT by 16.9% in the 1st quarter. Blue Trust Inc. now owns 9,934 shares of the real estate investment trust's stock worth $128,000 after buying an additional 1,438 shares during the last quarter. Institutional investors own 89.66% of the company's stock.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average cost of $12.29 per share, with a total value of $61,450.00. Following the completion of the acquisition, the chairman directly owned 705,344 shares in the company, valued at $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, BMO Capital Markets downgraded shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and cut their price target for the stock 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.75.

Apple Hospitality REIT Stock Performance

NYSE APLE traded down $0.1550 during trading on Monday, hitting $12.7150. 1,323,030 shares of the company's stock traded hands, compared to its average volume of 2,846,670. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 16.94 and a beta of 1.08. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month 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 business has a 50 day moving average of $12.07 and a 200-day moving average of $12.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $384.37 million for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. As a group, equities research 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 firm also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 780.0%. Apple Hospitality REIT's dividend 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.