Alberta Investment Management Corp Acquires 124,700 Shares of Apple Hospitality REIT Inc (NYSE:APLE)

Alberta Investment Management Corp raised its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 55.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351,300 shares of the real estate investment trust’s stock after purchasing an additional 124,700 shares during the quarter. Alberta Investment Management Corp’s holdings in Apple Hospitality REIT were worth $3,221,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Community Bank of Raymore raised its position in Apple Hospitality REIT by 23.6% in the 1st quarter. Community Bank of Raymore now owns 157,754 shares of the real estate investment trust’s stock valued at $1,446,000 after purchasing an additional 30,120 shares during the last quarter. Foundry Partners LLC bought a new position in Apple Hospitality REIT in the 1st quarter valued at $1,774,000. PNC Financial Services Group Inc. raised its position in Apple Hospitality REIT by 11.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 34,920 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 3,499 shares during the last quarter. Swiss National Bank raised its position in Apple Hospitality REIT by 1.3% in the 1st quarter. Swiss National Bank now owns 412,410 shares of the real estate investment trust’s stock valued at $3,782,000 after purchasing an additional 5,300 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new position in Apple Hospitality REIT in the 1st quarter valued at $196,000. Hedge funds and other institutional investors own 60.08% of the company’s stock.

Shares of Apple Hospitality REIT stock opened at $9.15 on Friday. The company has a quick ratio of 0.24, a current ratio of 4.37 and a debt-to-equity ratio of 0.63. Apple Hospitality REIT Inc has a 12 month low of $4.48 and a 12 month high of $16.88. The business has a fifty day simple moving average of $8.53 and a 200 day simple moving average of $12.97. The stock has a market cap of $2.14 billion, a PE ratio of 6.71 and a beta of 1.02.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 18th. The real estate investment trust reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). Apple Hospitality REIT had a return on equity of 3.98% and a net margin of 10.91%. The company had revenue of $238.01 million for the quarter, compared to analyst estimates of $245.39 million. Analysts expect that Apple Hospitality REIT Inc will post 0.31 EPS for the current fiscal year.

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $11.90 per share, with a total value of $59,500.00. Following the completion of the purchase, the chairman now directly owns 10,211,968 shares in the company, valued at $121,522,419.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the company. B. Riley dropped their target price on Apple Hospitality REIT from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Zacks Investment Research upgraded Apple Hospitality REIT from a “strong sell” rating to a “hold” rating in a research report on Thursday. ValuEngine downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Barclays downgraded Apple Hospitality REIT from an “overweight” rating to an “equal weight” rating and set a $10.00 target price for the company. in a research report on Tuesday, March 17th. Finally, KeyCorp restated a “hold” rating on shares of Apple Hospitality REIT in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.40.

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

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

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