Greenwood Capital Associates LLC Sells 794 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Greenwood Capital Associates LLC trimmed its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.4% in the third quarter, Holdings Channel.com reports. The fund owned 32,513 shares of the real estate investment trust’s stock after selling 794 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Apple Hospitality REIT were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. QRG Capital Management Inc. lifted its stake in Apple Hospitality REIT by 24.8% during the third quarter. QRG Capital Management Inc. now owns 127,951 shares of the real estate investment trust’s stock worth $1,900,000 after purchasing an additional 25,459 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Apple Hospitality REIT by 5.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 381,730 shares of the real estate investment trust’s stock worth $5,669,000 after buying an additional 20,940 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Apple Hospitality REIT by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 39,179 shares of the real estate investment trust’s stock worth $576,000 after buying an additional 4,300 shares during the period. Harbor Capital Advisors Inc. boosted its stake in Apple Hospitality REIT by 3.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 154,245 shares of the real estate investment trust’s stock valued at $2,291,000 after buying an additional 5,515 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. grew its position in Apple Hospitality REIT by 0.7% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 169,222 shares of the real estate investment trust’s stock valued at $2,513,000 after acquiring an additional 1,105 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the acquisition, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

APLE has been the subject of a number of analyst reports. StockNews.com cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Oppenheimer reissued an “outperform” rating and set a $17.00 price target on shares of Apple Hospitality REIT in a report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT has an average rating of “Hold” and an average price target of $16.25.

Apple Hospitality REIT Stock Up 0.2 %

Shares of NYSE APLE opened at $14.76 on Wednesday. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The firm’s 50-day simple moving average is $14.76 and its 200 day simple moving average is $14.62. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 17.36 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its 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). The company had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, research analysts expect 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 Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.50%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 112.94%.

Apple Hospitality REIT 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.