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. cut its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.2% during the 1st quarter, according to the company in 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 about 14.69% of Apple Hospitality REIT worth $451,136,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in APLE. Price T Rowe Associates Inc. MD lifted its holdings in shares of Apple Hospitality REIT by 27.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock worth $126,472,000 after buying an additional 1,761,996 shares during the last quarter. Victory Capital Management Inc. lifted its stake 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 buying an additional 633,688 shares during the period. Northern Trust Corp lifted its stake in Apple Hospitality REIT by 6.9% in the fourth quarter. Northern Trust Corp now owns 3,259,501 shares of the real estate investment trust's stock valued at $50,033,000 after buying an additional 209,698 shares during the period. LSV Asset Management raised its position in shares of Apple Hospitality REIT by 2.1% during the first quarter. LSV Asset Management now owns 2,519,277 shares of the real estate investment trust's stock worth $32,524,000 after purchasing an additional 52,734 shares during the period. Finally, Systematic Financial Management LP raised its position in shares of Apple Hospitality REIT by 3.0% during the fourth quarter. Systematic Financial Management LP now owns 2,163,458 shares of the real estate investment trust's stock worth $33,209,000 after purchasing an additional 63,581 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock traded up $0.1450 during trading hours on Tuesday, reaching $12.3750. The company had a trading volume of 1,356,971 shares, compared to its average volume of 2,856,693. The firm has a market cap of $2.93 billion, a PE ratio of 16.50 and a beta of 1.08. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50. The business has a fifty day simple moving average of $12.01 and a 200 day simple moving average of $12.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78.

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, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $381.37 million. On average, 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 company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.08 per share. Apple Hospitality REIT's payout ratio is 128.00%.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and reduced 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. Based on data from MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and an average 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.