QRG Capital Management Inc. Sells 54,953 Shares of Apple Hospitality REIT, Inc. $APLE

QRG Capital Management Inc. decreased its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 33.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,506 shares of the real estate investment trust’s stock after selling 54,953 shares during the period. QRG Capital Management Inc.’s holdings in Apple Hospitality REIT were worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its position in Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares during the period. Hantz Financial Services Inc. increased its position in shares of Apple Hospitality REIT by 12,230.0% during the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 2,446 shares during the period. Caitong International Asset Management Co. Ltd increased its position in shares of Apple Hospitality REIT by 444.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,280 shares during the period. EverSource Wealth Advisors LLC raised its stake in Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Apple Hospitality REIT by 97.5% in the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,872 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APLE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research note on Tuesday, November 4th. Cantor Fitzgerald assumed coverage on Apple Hospitality REIT in a report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price for the company. Robert W. Baird dropped their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Barclays began coverage on shares of Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $12.92.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $12.20 on Wednesday. The business has a 50-day simple moving average of $11.98 and a 200 day simple moving average of $12.08. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 16.71 and a beta of 0.85.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping 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 return on equity of 5.46% and a net margin of 12.37%. On average, research 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 firm also recently declared a monthly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Friday, January 30th. Apple Hospitality REIT’s payout ratio is 131.51%.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the acquisition, the chairman owned 710,344 shares in the company, valued at approximately $8,460,197.04. This represents a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 8,000 shares of company stock worth $95,180. Insiders own 7.10% of the company’s stock.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.