Rush Island Management LP acquired a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,489,435 shares of the real estate investment trust’s stock, valued at approximately $17,143,000. Apple Hospitality REIT makes up 1.2% of Rush Island Management LP’s investment portfolio, making the stock its 18th largest holding.
A number of other institutional investors have also recently made changes to their positions in APLE. SG Americas Securities LLC increased its position in shares of Apple Hospitality REIT by 91.9% during the fourth quarter. SG Americas Securities LLC now owns 109,512 shares of the real estate investment trust’s stock worth $1,298,000 after acquiring an additional 52,446 shares during the period. Hsbc Holdings PLC raised its stake in shares of Apple Hospitality REIT by 19.6% in the fourth quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust’s stock valued at $4,443,000 after acquiring an additional 61,354 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Apple Hospitality REIT in the first quarter valued at $1,123,000. UBS Group AG boosted its holdings in Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock valued at $55,950,000 after purchasing an additional 1,786,018 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new position in Apple Hospitality REIT during the 1st quarter worth $702,000. Institutional investors and hedge funds own 89.66% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Zacks Research upgraded Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Barclays reiterated an “equal weight” rating and issued a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and an average price target of $16.00.
Apple Hospitality REIT Stock Down 0.3%
Apple Hospitality REIT stock opened at $16.84 on Wednesday. Apple Hospitality REIT, Inc. has a 1-year low of $10.85 and a 1-year high of $17.13. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $3.97 billion, a PE ratio of 23.06, a P/E/G ratio of 3.31 and a beta of 0.87. The stock’s fifty day moving average is $16.11 and its two-hundred day moving average is $13.73.
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.
Apple Hospitality REIT Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, July 31st. This represents a c) annualized dividend and a yield of 5.7%. Apple Hospitality REIT’s payout ratio is presently 131.51%.
Insiders Place Their Bets
In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by insiders.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.
The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.
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