Illinois Municipal Retirement Fund Sells 7,491 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Illinois Municipal Retirement Fund reduced its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,823 shares of the real estate investment trust’s stock after selling 7,491 shares during the period. Illinois Municipal Retirement Fund’s holdings in Apple Hospitality REIT were worth $1,930,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in APLE. Blue Trust Inc. boosted its holdings in shares of Apple Hospitality REIT by 11.9% in the 4th quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 734 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Apple Hospitality REIT by 3.0% in 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 during the period. CIC Wealth LLC raised its holdings in Apple Hospitality REIT by 7.0% in the 4th quarter. CIC Wealth LLC now owns 16,730 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 1,100 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Apple Hospitality REIT by 5.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,598 shares of the real estate investment trust’s stock worth $442,000 after purchasing an additional 1,357 shares in the last quarter. Finally, Fortis Group Advisors LLC grew its stake in Apple Hospitality REIT by 45.6% during the first quarter. Fortis Group Advisors LLC now owns 4,349 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 1,363 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 1.9 %

Shares of Apple Hospitality REIT stock traded up $0.27 on Friday, reaching $14.55. 2,235,584 shares of the company’s stock were exchanged, compared to its average volume of 1,849,823. The company has a market capitalization of $3.53 billion, a P/E ratio of 16.92 and a beta of 1.11. Apple Hospitality REIT, Inc. has a 52 week low of $13.95 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50-day moving average is $14.47 and its two-hundred day moving average is $15.55.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. The company had revenue of $329.51 million during the quarter, compared to analyst estimates of $324.68 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. Sell-side analysts predict that Apple Hospitality REIT, Inc. will post 1.4 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Friday, June 28th. Apple Hospitality REIT’s payout ratio is presently 111.63%.

Analysts Set New Price Targets

APLE has been the topic of a number of research analyst reports. Wedbush initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.40.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $14.78 per share, with a total value of $73,900.00. Following the completion of the transaction, the chairman now directly owns 631,990 shares in the company, valued at $9,340,812.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.

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.