Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 42.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 60,520 shares of the real estate investment trust’s stock after purchasing an additional 18,100 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Apple Hospitality REIT were worth $585,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in APLE. Tower Research Capital LLC TRC raised its stake in Apple Hospitality REIT by 1,601.3% during the first quarter. Tower Research Capital LLC TRC now owns 6,652 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 6,261 shares in the last quarter. Signaturefd LLC raised its stake in Apple Hospitality REIT by 26.2% during the second quarter. Signaturefd LLC now owns 6,537 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,358 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Apple Hospitality REIT by 79.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,321 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 3,233 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Apple Hospitality REIT during the first quarter worth $84,000. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Apple Hospitality REIT during the first quarter worth $106,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.
In other news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $9.68 per share, with a total value of $48,400.00. Following the transaction, the chairman now owns 10,221,968 shares in the company, valued at $98,948,650.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 8,680 shares of company stock worth $85,283. 6.50% of the stock is owned by insiders.
Several analysts have recently commented on APLE shares. Bank of America started coverage on Apple Hospitality REIT in a report on Monday, June 1st. They set a “buy” rating and a $13.00 target price on the stock. Wells Fargo & Company decreased their target price on Apple Hospitality REIT from $14.00 to $9.50 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. ValuEngine upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Barclays raised their price target on Apple Hospitality REIT from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Finally, Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, September 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $13.08.
NYSE APLE opened at $9.48 on Monday. The firm has a market cap of $2.12 billion, a P/E ratio of -237.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.68 and a quick ratio of 1.68. The stock’s 50-day moving average is $10.09 and its 200-day moving average is $9.44. Apple Hospitality REIT Inc has a one year low of $4.48 and a one year high of $16.88.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.27). Apple Hospitality REIT had a negative net margin of 0.99% and a negative return on equity of 0.29%. Equities analysts anticipate that Apple Hospitality REIT Inc will post 0.08 EPS for the current year.
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, select-service hotels in the United States. Apple Hospitality’s portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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