Apple Hospitality REIT, Inc. $APLE Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Apple Hospitality REIT by 1.2%, selling 439,649 shares and retaining 34,944,678 shares, representing 14.69% ownership worth approximately $451 million.
• Apple Hospitality REIT's recent earnings report showed a net revenue of $384.37 million and an EPS of $0.47, aligning with analyst expectations.
• BMO Capital Markets has downgraded Apple Hospitality REIT from an "outperform" to a "market perform," lowering the target price from $14.00 to $12.00, adding to a generally cautious sentiment with an average "Hold" rating among analysts.

Vanguard Group Inc. lowered its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,944,678 shares of the real estate investment trust's stock after selling 439,649 shares during the quarter. Vanguard Group Inc. owned approximately 14.69% of Apple Hospitality REIT worth $451,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. boosted its position in shares of Apple Hospitality REIT by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust's stock worth $366,000 after buying an additional 755 shares during the period. Isthmus Partners LLC boosted its position in shares of Apple Hospitality REIT by 0.5% during the first quarter. Isthmus Partners LLC now owns 200,823 shares of the real estate investment trust's stock worth $2,593,000 after buying an additional 919 shares during the period. Xponance Inc. boosted its position in shares of Apple Hospitality REIT by 6.4% during the first quarter. Xponance Inc. now owns 17,385 shares of the real estate investment trust's stock worth $224,000 after buying an additional 1,044 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Apple Hospitality REIT by 6.2% during the first quarter. Oppenheimer & Co. Inc. now owns 18,970 shares of the real estate investment trust's stock worth $245,000 after buying an additional 1,100 shares during the period. Finally, PFG Investments LLC boosted its position in shares of Apple Hospitality REIT by 9.2% during the first quarter. PFG Investments LLC now owns 13,216 shares of the real estate investment trust's stock worth $171,000 after buying an additional 1,115 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Stock Down 0.3%

NYSE:APLE traded down $0.0350 during midday trading on Wednesday, reaching $12.3650. The company had a trading volume of 2,247,232 shares, compared to its average volume of 3,280,296. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 16.49 and a beta of 1.08. The stock's fifty day simple moving average is $12.03 and its 200-day simple moving average is $12.59. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released 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. The firm had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, sell-side 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 declared 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. The ex-dividend date is Friday, August 29th. This represents a yield of 780.0%. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 128.00%.

Wall Street Analyst Weigh In

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

Apple Hospitality REIT 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.