Vanguard Group Inc. Sells 288,858 Shares of Apple Hospitality REIT, Inc. $APLE

Key Points

• Vanguard trimmed its stake in Apple Hospitality REIT by 288,858 shares (down 0.9%) to 33,261,470 shares, still owning about 14.06% of the company (worth ~$394.1M); institutional investors hold ~89.66% of the stock.
• Analyst sentiment is mixed but cautious—MarketBeat shows an average rating of "Hold" with an average target of $12.64, amid recent price-target cuts (e.g., Barclays to $13, Wells Fargo to $12) and some remaining Overweight views.
• Apple Hospitality beat quarterly expectations (EPS $0.12 vs. $0.11; revenue $337.7M vs. $327.8M), trades near its 52-week high (~$14), and pays a monthly $0.08 dividend (≈6.8% yield) despite a high payout ratio (~129.7%).

Vanguard Group Inc. lowered its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,261,470 shares of the real estate investment trust's stock after selling 288,858 shares during the quarter. Vanguard Group Inc. owned about 14.06% of Apple Hospitality REIT worth $394,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its position in Apple Hospitality REIT by 224.3% during the fourth quarter. M&T Bank Corp now owns 46,715 shares of the real estate investment trust's stock valued at $554,000 after purchasing an additional 32,312 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Apple Hospitality REIT by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 175,955 shares of the real estate investment trust's stock valued at $2,085,000 after buying an additional 3,878 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Apple Hospitality REIT in the fourth quarter valued at about $61,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Apple Hospitality REIT by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust's stock valued at $99,000 after buying an additional 1,160 shares during the last quarter. Finally, CWM LLC raised its stake in Apple Hospitality REIT by 21.1% in the fourth quarter. CWM LLC now owns 35,564 shares of the real estate investment trust's stock valued at $421,000 after buying an additional 6,201 shares during the last quarter. Institutional investors own 89.66% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on APLE. LADENBURG THALM/SH SH began coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a "neutral" rating and a $13.00 price target for the company. Barclays decreased their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a research note on Wednesday, April 22nd. Wells Fargo & Company decreased their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $12.64.

Apple Hospitality REIT Trading Up 3.0%

Shares of NYSE:APLE opened at $14.02 on Thursday. Apple Hospitality REIT, Inc. has a 52-week low of $10.85 and a 52-week high of $14.03. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 8.35 and a beta of 0.88. The company has a quick ratio of 0.40, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $12.32 and a 200-day moving average price of $12.07.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The firm had revenue of $337.74 million during the quarter, compared to analysts' expectations of $327.81 million. Equities analysts predict that Apple Hospitality REIT, Inc. will post 1.51 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 15th. Stockholders of record on Thursday, April 30th will be paid a $0.08 dividend. This represents a c) annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Thursday, April 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 129.73%.

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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