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Goldman Sachs Group Inc. Acquires 678,905 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Apple Hospitality REIT logo with Finance background

Goldman Sachs Group Inc. grew its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 47.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,105,783 shares of the real estate investment trust's stock after acquiring an additional 678,905 shares during the quarter. Goldman Sachs Group Inc. owned 0.87% of Apple Hospitality REIT worth $34,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Blue Trust Inc. boosted its position in shares of Apple Hospitality REIT by 11.9% in the fourth quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust's stock valued at $106,000 after acquiring an additional 734 shares during the period. CIC Wealth LLC lifted its position in Apple Hospitality REIT by 7.0% in the fourth quarter. CIC Wealth LLC now owns 16,730 shares of the real estate investment trust's stock worth $278,000 after purchasing an additional 1,100 shares during the period. PNC Financial Services Group Inc. lifted its position in Apple Hospitality REIT by 5.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,598 shares of the real estate investment trust's stock worth $442,000 after purchasing an additional 1,357 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Apple Hospitality REIT by 1.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 104,284 shares of the real estate investment trust's stock worth $1,732,000 after purchasing an additional 1,439 shares during the period. Finally, Principal Securities Inc. bought a new position in Apple Hospitality REIT in the fourth quarter worth $26,000. 89.66% of the stock is owned by institutional investors.


Wall Street Analyst Weigh In

Several research analysts recently commented on APLE shares. Wedbush started coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They issued a "neutral" rating and a $15.00 target price for the company. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $17.83.

Get Our Latest Research Report on APLE

Insider Buying and Selling

In related news, Chairman Glade M. Knight bought 5,000 shares of the firm's stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $14.78 per share, for a total transaction of $73,900.00. Following the transaction, the chairman now owns 631,990 shares of the company's stock, valued at $9,340,812.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.80% of the company's stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE traded up $0.05 during midday trading on Friday, reaching $14.59. 4,969,767 shares of the company traded hands, compared to its average volume of 2,258,459. The firm has a market cap of $3.54 billion, a PE ratio of 16.97 and a beta of 1.10. The stock's 50-day simple moving average is $14.71 and its 200-day simple moving average is $15.83. Apple Hospitality REIT, Inc. has a 12 month low of $13.96 and a 12 month high of $17.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The business had revenue of $329.51 million during the quarter, compared to analyst estimates of $324.68 million. During the same quarter last year, the business posted $0.34 earnings per share. As a group, equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 6.58%. Apple Hospitality REIT's payout ratio is 111.63%.

Apple Hospitality REIT Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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