Principal Financial Group Inc. Sells 220,280 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Principal Financial Group Inc. lessened its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,056,252 shares of the real estate investment trust's stock after selling 220,280 shares during the period. Principal Financial Group Inc. owned approximately 0.44% of Apple Hospitality REIT worth $15,685,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its position in Apple Hospitality REIT by 12.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 22,032 shares of the real estate investment trust's stock worth $329,000 after purchasing an additional 2,422 shares during the period. Tidal Investments LLC raised its holdings in shares of Apple Hospitality REIT by 7.0% in the third quarter. Tidal Investments LLC now owns 60,270 shares of the real estate investment trust's stock worth $895,000 after buying an additional 3,944 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 12.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 26,001 shares of the real estate investment trust's stock worth $419,000 after acquiring an additional 2,819 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Apple Hospitality REIT by 14.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust's stock valued at $174,000 after acquiring an additional 1,490 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Apple Hospitality REIT during the 3rd quarter valued at $1,778,000. 89.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com upgraded Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Friday, November 22nd. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $16.80.

Apple Hospitality REIT Stock Down 2.0 %

NYSE:APLE traded down $0.32 during mid-day trading on Friday, reaching $15.44. The company's stock had a trading volume of 1,217,026 shares, compared to its average volume of 2,016,528. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.08. The stock has a fifty day moving average of $15.64 and a 200-day moving average of $14.93. The firm has a market capitalization of $3.70 billion, a PE ratio of 18.16 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million during the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.96 annualized dividend and a yield of 6.22%. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 112.94%.

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.