Vanguard Group Inc. Sells 391,161 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Vanguard Group Inc. decreased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,384,327 shares of the real estate investment trust's stock after selling 391,161 shares during the period. Vanguard Group Inc. owned about 14.75% of Apple Hospitality REIT worth $543,149,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in 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 valued at $75,000 after purchasing an additional 2,193 shares during the period. KBC Group NV raised its stake in Apple Hospitality REIT by 37.8% during the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 2,541 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Apple Hospitality REIT during the 4th quarter valued at $159,000. Proficio Capital Partners LLC purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth $167,000. Finally, TD Private Client Wealth LLC grew its holdings in shares of Apple Hospitality REIT by 14.6% in the third quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust's stock worth $174,000 after acquiring an additional 1,490 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

APLE traded down $0.20 during midday trading on Friday, reaching $11.50. The company had a trading volume of 4,306,616 shares, compared to its average volume of 2,114,498. The business has a 50-day moving average of $14.33 and a two-hundred day moving average of $15.00. 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 $11.11 and a 1 year high of $16.50. The company has a market cap of $2.76 billion, a P/E ratio of 13.53 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. As a group, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal 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 dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.35%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 109.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on APLE shares. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a report on Monday, December 9th. They issued an "outperform" rating and a $18.00 target price on the stock. Bank of America upgraded shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company dropped their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $16.80.

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.