Prudential Financial Inc. Sells 58,433 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Prudential Financial Inc. trimmed its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,285 shares of the real estate investment trust's stock after selling 58,433 shares during the quarter. Prudential Financial Inc. owned about 0.09% of Apple Hospitality REIT worth $3,523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Apple Hospitality REIT by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock worth $75,000 after purchasing an additional 2,193 shares in the last quarter. KBC Group NV lifted its holdings in shares of Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock worth $142,000 after buying an additional 2,541 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Apple Hospitality REIT during the fourth quarter worth $159,000. Proficio Capital Partners LLC purchased a new position in Apple Hospitality REIT during the fourth quarter valued at $167,000. Finally, TD Private Client Wealth LLC lifted its stake in Apple Hospitality REIT by 14.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust's stock worth $174,000 after purchasing an additional 1,490 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several analysts have recently issued reports on APLE shares. Wells Fargo & Company decreased their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective for the company. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of "Moderate Buy" and an average price target of $16.80.

Apple Hospitality REIT Trading Down 9.3 %

Shares of Apple Hospitality REIT stock traded down $1.21 during trading on Thursday, hitting $11.70. The stock had a trading volume of 6,584,388 shares, compared to its average volume of 2,101,360. The stock has a market cap of $2.80 billion, a PE ratio of 13.76 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 12 month low of $11.60 and a 12 month high of $16.50. The firm's fifty day simple moving average is $14.41 and its 200-day simple moving average is $15.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

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

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 8.21%. Apple Hospitality REIT's payout ratio is 109.09%.

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.