Northern Trust Corp Grows Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Northern Trust Corp boosted its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,259,501 shares of the real estate investment trust's stock after purchasing an additional 209,698 shares during the period. Northern Trust Corp owned approximately 1.36% of Apple Hospitality REIT worth $50,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Apple Hospitality REIT during the fourth quarter worth approximately $31,000. Quarry LP increased its position 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 acquiring an additional 1,751 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Apple Hospitality REIT during the fourth quarter worth approximately $51,000. GAMMA Investing LLC increased its position in shares of Apple Hospitality REIT by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock worth $75,000 after acquiring an additional 2,193 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Apple Hospitality REIT during the fourth quarter worth approximately $92,000. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 1.1%

NYSE:APLE traded up $0.14 during trading hours on Tuesday, reaching $12.36. The company's stock had a trading volume of 1,086,618 shares, compared to its average volume of 2,260,752. The company has a market capitalization of $2.94 billion, a P/E ratio of 14.54 and a beta of 1.07. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The stock has a 50 day moving average price of $12.37 and a two-hundred day moving average price of $14.34.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $327.70 million during the quarter, compared to the consensus estimate of $332.86 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. Equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Investors of record on Wednesday, April 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date is Wednesday, April 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is 121.52%.

Insider Buying and Selling

In other news, Chairman Glade M. Knight purchased 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the acquisition, the chairman now owns 700,344 shares of the company's stock, valued at $8,004,931.92. This trade represents a 1.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 12,000 shares of company stock valued at $137,120 over the last 90 days. Corporate insiders own 7.10% of the company's stock.

Analysts Set New Price Targets

APLE has been the topic of a number of research reports. Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.80.

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.