Central Pacific Bank Trust Division Acquires New Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Central Pacific Bank Trust Division acquired a new stake in Apple Hospitality REIT, Inc. (NYSE:APLEFree Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,260 shares of the real estate investment trust’s stock, valued at approximately $135,000.

A number of other institutional investors and hedge funds have also bought and sold shares of APLE. Principal Securities Inc. acquired a new stake in Apple Hospitality REIT in the fourth quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in Apple Hospitality REIT during the 4th quarter worth about $27,000. YHB Investment Advisors Inc. acquired a new stake in Apple Hospitality REIT during the 1st quarter worth about $37,000. GAMMA Investing LLC acquired a new stake in Apple Hospitality REIT during the 4th quarter worth about $41,000. Finally, Fortis Group Advisors LLC grew its holdings in Apple Hospitality REIT by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,493 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $14.78 per share, with a total value of $73,900.00. Following the transaction, the chairman now owns 631,990 shares in the company, valued at $9,340,812.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Wedbush assumed coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target for the company. 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, the stock presently has an average rating of “Hold” and an average target price of $17.40.

Check Out Our Latest Report on APLE

Apple Hospitality REIT Stock Up 0.6 %

Shares of APLE stock traded up $0.09 on Wednesday, reaching $14.06. 192,093 shares of the company were exchanged, compared to its average volume of 2,049,937. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 16.24 and a beta of 1.11. The company has a 50-day moving average of $14.50 and a 200-day moving average of $15.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79. Apple Hospitality REIT, Inc. has a one year low of $13.95 and a one year high of $17.90.

Apple Hospitality REIT (NYSE:APLEGet Free Report) last released its quarterly earnings data 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 company had revenue of $329.51 million for the quarter, compared to the consensus estimate 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 period last year, the company earned $0.34 EPS. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.08 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.96 annualized dividend and a yield of 6.83%. Apple Hospitality REIT’s payout ratio is 111.63%.

Apple Hospitality REIT Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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