Apple Hospitality REIT, Inc. $APLE Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. lessened its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 90,252 shares of the real estate investment trust’s stock after selling 8,829 shares during the quarter. Cozad Asset Management Inc.’s holdings in Apple Hospitality REIT were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in APLE. T. Rowe Price Investment Management Inc. grew its position in Apple Hospitality REIT by 1.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,401,005 shares of the real estate investment trust’s stock worth $82,637,000 after purchasing an additional 80,591 shares during the period. Nuveen LLC purchased a new stake in shares of Apple Hospitality REIT in the first quarter worth about $40,841,000. LSV Asset Management grew its holdings in Apple Hospitality REIT by 8.8% during the second quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust’s stock worth $31,990,000 after acquiring an additional 221,976 shares during the period. Systematic Financial Management LP raised its position in Apple Hospitality REIT by 0.8% during the first quarter. Systematic Financial Management LP now owns 2,179,914 shares of the real estate investment trust’s stock valued at $28,143,000 after acquiring an additional 16,456 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Apple Hospitality REIT by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 1,738,988 shares of the real estate investment trust’s stock valued at $20,294,000 after acquiring an additional 151,621 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $11.75 on Friday. 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 firm has a fifty day moving average of $11.76 and a 200 day moving average of $11.98. The firm has a market cap of $2.78 billion, a PE ratio of 15.67 and a beta of 1.04. 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) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. Apple Hospitality REIT’s dividend payout ratio is presently 131.51%.

Analyst Upgrades and Downgrades

APLE has been the topic of several recent research reports. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target on the stock. in a report on Tuesday, November 4th. Robert W. Baird cut their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Apple Hospitality REIT in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald assumed coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 target price on the stock. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.70.

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.