Apple Hospitality REIT, Inc. $APLE Shares Sold by AlphaQuest LLC

AlphaQuest LLC lowered its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 56.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,127 shares of the real estate investment trust’s stock after selling 37,210 shares during the period. AlphaQuest LLC’s holdings in Apple Hospitality REIT were worth $340,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of APLE. Nuveen LLC acquired a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $40,841,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $9,055,000. Victory Capital Management Inc. lifted its stake in shares of Apple Hospitality REIT by 9.4% in the 1st quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust’s stock valued at $95,552,000 after purchasing an additional 633,688 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Apple Hospitality REIT by 59.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust’s stock valued at $18,753,000 after purchasing an additional 540,957 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $6,254,000. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

APLE opened at $11.39 on Friday. The stock’s 50-day moving average price is $12.18 and its 200 day moving average price is $12.00. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 15.19 and a beta of 1.02.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The firm had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. As a group, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a yield of 8.4%. Apple Hospitality REIT’s dividend payout ratio is presently 128.00%.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the acquisition, the chairman directly owned 705,344 shares in the company, valued at $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APLE. Cantor Fitzgerald began coverage on Apple Hospitality REIT in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday. Robert W. Baird decreased their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Wells Fargo & Company raised Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Apple Hospitality REIT Company 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.