Van Lanschot Kempen Investment Management N.V. Sells 138,333 Shares of 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. decreased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 95.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,681 shares of the real estate investment trust's stock after selling 138,333 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Apple Hospitality REIT were worth $86,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in APLE. Principal Financial Group Inc. increased its stake in Apple Hospitality REIT by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock worth $14,350,000 after acquiring an additional 28,778 shares during the last quarter. Deutsche Bank AG increased its stake in Apple Hospitality REIT by 20.9% in the 4th quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock worth $6,019,000 after acquiring an additional 67,896 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Apple Hospitality REIT by 24.8% in the 1st 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 last quarter. Sound Income Strategies LLC increased its stake in Apple Hospitality REIT by 12.0% in the 1st 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 last quarter. Finally, KBC Group NV increased its stake in Apple Hospitality REIT by 29.9% in the 1st 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 last quarter. Hedge funds and other institutional investors own 89.66% of the company's stock.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were acquired at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the acquisition, the chairman 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.10% of the stock is currently owned by insiders.

Apple Hospitality REIT Trading Up 1.2%

APLE traded up $0.16 on Tuesday, hitting $12.87. 663,452 shares of the company were exchanged, compared to its average volume of 2,837,963. 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 fifty day simple moving average of $12.10 and a two-hundred day simple moving average of $12.49. The stock has a market capitalization of $3.05 billion, a PE ratio of 17.14 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.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly 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 business had revenue of $384.37 million for the quarter, compared to analysts' expectations of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.08 dividend. This represents a dividend yield of 780.0%. The ex-dividend date is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 128.00%.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets lowered Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.75.

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.