Franklin Resources Inc. Sells 241,012 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Franklin Resources Inc. lessened its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 66.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 121,812 shares of the real estate investment trust's stock after selling 241,012 shares during the period. Franklin Resources Inc. owned 0.05% of Apple Hospitality REIT worth $1,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 780 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Apple Hospitality REIT by 1.2% in the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust's stock valued at $996,000 after purchasing an additional 813 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Apple Hospitality REIT by 6.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust's stock valued at $241,000 after purchasing an additional 921 shares during the last quarter. Ellis Investment Partners LLC raised its holdings in shares of Apple Hospitality REIT by 4.6% during the 3rd quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust's stock worth $318,000 after buying an additional 948 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of Apple Hospitality REIT by 8.2% during the 3rd quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust's stock worth $198,000 after buying an additional 1,008 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Performance

NYSE APLE traded down $0.32 during trading hours on Friday, reaching $15.44. 1,217,026 shares of the company were exchanged, 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. The stock has a market capitalization of $3.70 billion, a P/E ratio of 18.16 and a beta of 1.13. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.08. The business's 50 day simple moving average is $15.63 and its 200-day simple moving average is $14.93.

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 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an "outperform" rating and a $18.00 price target for the company. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday, November 22nd. Oppenheimer reiterated 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. Finally, Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of "Hold" and an average price target of $16.80.

About Apple Hospitality REIT

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.