JPMorgan Chase & Co. Reduces Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

JPMorgan Chase & Co. decreased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,208,647 shares of the real estate investment trust's stock after selling 34,928 shares during the quarter. JPMorgan Chase & Co. owned about 2.17% of Apple Hospitality REIT worth $79,953,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in shares of Apple Hospitality REIT by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust's stock worth $103,885,000 after purchasing an additional 29,781 shares during the period. Geode Capital Management LLC lifted its stake in Apple Hospitality REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust's stock worth $85,571,000 after acquiring an additional 62,149 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Apple Hospitality REIT by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock worth $70,465,000 after acquiring an additional 133,505 shares in the last quarter. Systematic Financial Management LP increased its position in Apple Hospitality REIT by 11.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust's stock valued at $31,183,000 after purchasing an additional 207,256 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Apple Hospitality REIT by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 1,082,741 shares of the real estate investment trust's stock valued at $16,620,000 after purchasing an additional 26,489 shares in the last quarter. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Stock Down 4.0 %

Shares of APLE traded down $0.45 during midday trading on Tuesday, hitting $10.65. 4,660,084 shares of the company's stock traded hands, compared to its average volume of 2,145,316. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.52 and a beta of 1.00. Apple Hospitality REIT, Inc. has a 1 year low of $10.53 and a 1 year high of $16.50. The firm's fifty day moving average is $14.05 and its 200-day moving average is $14.91.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 9.02%. Apple Hospitality REIT's dividend payout ratio (DPR) is 109.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on APLE shares. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective on the stock. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company cut their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" 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.