Creative Planning Sells 50,169 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Creative Planning reduced its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 66.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,479 shares of the real estate investment trust's stock after selling 50,169 shares during the quarter. Creative Planning's holdings in Apple Hospitality REIT were worth $370,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in APLE. Amalgamated Bank raised its position in Apple Hospitality REIT by 1.2% during the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust's stock valued at $996,000 after acquiring an additional 813 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Apple Hospitality REIT by 3.0% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust's stock valued at $497,000 after acquiring an additional 859 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Apple Hospitality REIT by 1.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust's stock valued at $986,000 after acquiring an additional 1,050 shares in the last quarter. United Services Automobile Association raised its position in Apple Hospitality REIT by 7.6% during the second quarter. United Services Automobile Association now owns 15,408 shares of the real estate investment trust's stock valued at $224,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Aurora Investment Counsel raised its position in Apple Hospitality REIT by 4.5% during the first quarter. Aurora Investment Counsel now owns 26,799 shares of the real estate investment trust's stock valued at $439,000 after acquiring an additional 1,156 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Oppenheimer restated an "outperform" rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a research note on Friday, October 4th. Wells Fargo & Company reduced 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 note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.25.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded down $0.02 during trading hours on Thursday, hitting $15.23. 1,321,545 shares of the company traded hands, compared to its average volume of 2,087,114. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 17.71 and a beta of 1.12. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $17.90. The firm has a 50-day moving average of $14.54 and a 200 day moving average of $14.71. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The company had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same quarter in the previous year, the company earned $0.49 earnings per share. On average, analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 6.31%. The ex-dividend date was Monday, September 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 111.63%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $14.04 per share, with a total value of $70,200.00. Following the acquisition, the chairman now directly owns 636,990 shares of the company's stock, valued at $8,943,339.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.80% of the company's stock.

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.