Public Employees Retirement System of Ohio Reduces Holdings in Apple Hospitality REIT, Inc. $APLE

Public Employees Retirement System of Ohio trimmed its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 15.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 260,698 shares of the real estate investment trust’s stock after selling 46,832 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Apple Hospitality REIT were worth $3,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Apple Hospitality REIT by 36.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 329,551 shares of the real estate investment trust’s stock worth $3,793,000 after purchasing an additional 88,026 shares during the last quarter. Sei Investments Co. raised its holdings in Apple Hospitality REIT by 21.5% during the 1st quarter. Sei Investments Co. now owns 319,178 shares of the real estate investment trust’s stock valued at $3,674,000 after buying an additional 56,493 shares during the last quarter. Cetera Investment Advisers raised its holdings in Apple Hospitality REIT by 3.0% during the 1st quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust’s stock valued at $622,000 after buying an additional 1,568 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Apple Hospitality REIT by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,254,332 shares of the real estate investment trust’s stock valued at $37,458,000 after buying an additional 56,555 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Apple Hospitality REIT by 11.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,210 shares of the real estate investment trust’s stock worth $545,000 after acquiring an additional 4,747 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.90% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $16.50 on Friday. 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 company’s 50-day moving average is $16.24 and its 200 day moving average is $13.81. The stock has a market capitalization of $3.90 billion, a P/E ratio of 22.61, a P/E/G ratio of 3.25 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million for 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 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, July 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Cantor Fitzgerald raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Wells Fargo & Company upped their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, 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 report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Apple Hospitality REIT 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.