Price T Rowe Associates Inc. MD Has $121.19 Million Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Price T Rowe Associates Inc. MD increased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.5% during the first quarter, Holdings Channel reports. The fund owned 7,398,673 shares of the real estate investment trust’s stock after acquiring an additional 253,082 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Apple Hospitality REIT were worth $121,192,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Apple Hospitality REIT by 11.9% in the fourth quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 734 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Apple Hospitality REIT by 3.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 859 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Apple Hospitality REIT by 1.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after acquiring an additional 1,050 shares during the period. PNC Financial Services Group Inc. lifted 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 acquiring an additional 1,357 shares during the period. Finally, Fortis Group Advisors LLC lifted its holdings in Apple Hospitality REIT by 45.6% during the 1st quarter. Fortis Group Advisors LLC now owns 4,349 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 1,363 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average cost of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the transaction, the chairman now directly owns 631,990 shares in the company, valued at approximately $9,340,812.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on APLE shares. Wedbush started coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price for the company. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.40.

Apple Hospitality REIT Price Performance

APLE stock traded up $0.03 during mid-day trading on Monday, hitting $15.02. The stock had a trading volume of 418,074 shares, compared to its average volume of 2,058,862. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. Apple Hospitality REIT, Inc. has a 52 week low of $13.95 and a 52 week high of $17.90. The firm has a market capitalization of $3.64 billion, a P/E ratio of 17.43 and a beta of 1.11. The firm has a fifty day simple moving average of $14.51 and a 200 day simple moving average of $15.42.

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

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Wednesday, July 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

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.