Victory Capital Management Inc. Has $100.06 Million Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Victory Capital Management Inc. lifted its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 11.9% in the third quarter, HoldingsChannel reports. The fund owned 6,737,959 shares of the real estate investment trust’s stock after buying an additional 718,844 shares during the period. Victory Capital Management Inc.’s holdings in Apple Hospitality REIT were worth $100,059,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Apple Hospitality REIT by 3.5% in the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after acquiring an additional 1,217,142 shares during the last quarter. Masterton Capital Management LP bought a new position in shares of Apple Hospitality REIT in the 2nd quarter worth $3,378,000. Entropy Technologies LP bought a new position in shares of Apple Hospitality REIT in the 1st quarter worth $338,000. Dimensional Fund Advisors LP grew its stake in shares of Apple Hospitality REIT by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in Apple Hospitality REIT by 14.9% in the third quarter. Sound Income Strategies LLC now owns 818,601 shares of the real estate investment trust’s stock valued at $12,156,000 after purchasing an additional 105,993 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer restated an “outperform” rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Wells Fargo & Company reduced 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. Finally, StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.50.

Apple Hospitality REIT Stock Down 0.1 %

Shares of Apple Hospitality REIT stock opened at $15.89 on Thursday. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market capitalization of $3.81 billion, a P/E ratio of 18.69 and a beta of 1.11. The business has a 50-day moving average of $14.94 and a two-hundred day moving average of $14.65.

Apple Hospitality REIT (NYSE:APLE) last posted 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). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.04%. Apple Hospitality REIT’s dividend payout ratio 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.