Westwood Holdings Group Inc. Trims Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Key Points

• Westwood Holdings Group Inc. reduced its stake in Apple Hospitality REIT by 9.9%, owning 350,000 shares valued at $4.5 million after selling 38,414 shares during the first quarter.
• The company declared a dividend of $0.08 per share, with a yield of 770.0%, payable on August 15th, with an ex-dividend date of July 31st.
• Analysts from BMO Capital Markets downgraded the stock's rating from "outperform" to "market perform" and reduced the target price from $14.00 to $12.00.

Westwood Holdings Group Inc. trimmed its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 350,000 shares of the real estate investment trust's stock after selling 38,414 shares during the period. Westwood Holdings Group Inc. owned 0.15% of Apple Hospitality REIT worth $4,518,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APLE. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT during the fourth quarter worth about $31,000. Versant Capital Management Inc boosted its stake in shares of Apple Hospitality REIT by 569.5% during the first quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 2,386 shares in the last quarter. Quarry LP lifted its holdings in shares of Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,751 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at about $64,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at $92,000. 89.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock traded up $0.01 during mid-day trading on Monday, hitting $11.73. 668,842 shares of the company traded hands, compared to its average volume of 2,853,674. The stock has a fifty day moving average price of $11.94 and a 200-day moving average price of $12.73. 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 stock has a market cap of $2.78 billion, a price-to-earnings ratio of 15.63 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.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. The firm had revenue of $384.37 million during 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%. On average, equities analysts predict 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 announced a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.08 dividend. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 770.0%. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 128.00%.

Apple Hospitality REIT Company 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.