Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 59.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,400 shares of the real estate investment trust’s stock after selling 17,850 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Apple Hospitality REIT were worth $184,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in APLE. Vanguard Group Inc. grew its position in shares of Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after buying an additional 1,217,142 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Apple Hospitality REIT by 17.2% in the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock valued at $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Apple Hospitality REIT by 400.8% in the 2nd quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after purchasing an additional 511,100 shares during the period. Westwood Holdings Group Inc. boosted its position in shares of Apple Hospitality REIT by 911.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock valued at $5,648,000 after purchasing an additional 350,000 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in Apple Hospitality REIT by 3,768.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after buying an additional 339,156 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $15.53 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 18.26 and a beta of 1.11. The firm’s fifty day moving average price is $15.04 and its 200 day moving average price is $14.66. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same quarter last year, the firm earned $0.45 earnings per share. On average, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.18%. Apple Hospitality REIT’s payout ratio is currently 112.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APLE shares. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company reduced their target price on shares of 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus target price of $16.50.

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.