Allstate Corp Cuts Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Allstate Corp reduced its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,980 shares of the real estate investment trust’s stock after selling 5,894 shares during the quarter. Allstate Corp’s holdings in Apple Hospitality REIT were worth $1,013,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of APLE. Brown Brothers Harriman & Co. acquired a new position in Apple Hospitality REIT in the 4th quarter worth about $51,000. GAMMA Investing LLC raised its stake in shares of Apple Hospitality REIT by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 2,193 shares during the period. KBC Group NV raised its stake in shares of Apple Hospitality REIT by 37.8% during the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 2,541 shares during the period. Entropy Technologies LP purchased a new position in shares of Apple Hospitality REIT during the 4th quarter valued at approximately $159,000. Finally, Proficio Capital Partners LLC acquired a new stake in Apple Hospitality REIT in the 4th quarter valued at $167,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $12.86 on Monday. The firm has a 50-day simple moving average of $14.61 and a 200-day simple moving average of $15.07. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 15.12 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 52 week low of $12.69 and a 52 week high of $16.51.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. On average, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 7.47%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on APLE shares. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

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.