Victory Capital Management Inc. Has $100.06 Million Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Victory Capital Management Inc. grew its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 11.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,737,959 shares of the real estate investment trust's stock after buying an additional 718,844 shares during the period. Victory Capital Management Inc. owned 2.78% of Apple Hospitality REIT worth $100,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 780 shares during the last quarter. Amalgamated Bank increased its holdings in Apple Hospitality REIT by 1.2% during the 2nd 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. First Trust Direct Indexing L.P. raised its position in shares of Apple Hospitality REIT by 6.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust's stock worth $241,000 after purchasing an additional 921 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in 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 valued at $318,000 after buying an additional 948 shares during the last quarter. Finally, Inspire Advisors LLC boosted its stake in shares of Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust's stock valued at $198,000 after acquiring an additional 1,008 shares during the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APLE has been the subject of several analyst reports. Wells Fargo & Company cut their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. Oppenheimer restated an "outperform" rating and issued a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com cut shares of Apple Hospitality REIT from a "hold" rating to a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.50.

Apple Hospitality REIT Stock Down 1.9 %

Shares of NYSE:APLE traded down $0.30 during midday trading on Thursday, hitting $15.59. 1,824,160 shares of the company's stock traded hands, compared to its average volume of 2,062,739. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $17.90. The company has a market cap of $3.74 billion, a PE ratio of 18.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm's fifty day moving average price is $14.94 and its two-hundred day moving average price is $14.65.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its 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). The company had revenue of $378.84 million during the quarter, compared to analysts' expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the previous year, the company earned $0.45 EPS. On average, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.16%. Apple Hospitality REIT's dividend payout ratio is presently 112.94%.

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.