Great Lakes Advisors LLC purchased a new position in Apple Hospitality REIT Inc (NYSE:APLE) in the 1st quarter, Holdings Channel reports. The fund purchased 555,921 shares of the real estate investment trust’s stock, valued at approximately $9,062,000.
Several other institutional investors and hedge funds also recently bought and sold shares of APLE. LSV Asset Management grew its stake in shares of Apple Hospitality REIT by 0.3% during the 1st quarter. LSV Asset Management now owns 1,325,379 shares of the real estate investment trust’s stock valued at $21,603,000 after acquiring an additional 3,900 shares during the period. Raymond James & Associates grew its stake in shares of Apple Hospitality REIT by 58.5% during the 1st quarter. Raymond James & Associates now owns 44,805 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 16,544 shares during the period. Blue Sky Asset Management LLC bought a new position in shares of Apple Hospitality REIT during the 1st quarter valued at approximately $267,000. Cetera Investment Advisers grew its stake in shares of Apple Hospitality REIT by 6.1% during the 1st quarter. Cetera Investment Advisers now owns 11,356 shares of the real estate investment trust’s stock valued at $185,000 after acquiring an additional 657 shares during the period. Finally, Systematic Financial Management LP grew its stake in shares of Apple Hospitality REIT by 9.7% during the 1st quarter. Systematic Financial Management LP now owns 1,128,788 shares of the real estate investment trust’s stock valued at $18,399,000 after acquiring an additional 99,532 shares during the period. 57.48% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on APLE shares. ValuEngine downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Barclays reissued a “hold” rating and issued a $18.00 price target on shares of Apple Hospitality REIT in a report on Sunday, February 10th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, B. Riley reissued a “buy” rating on shares of Apple Hospitality REIT in a report on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $19.00.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.20). Apple Hospitality REIT had a return on equity of 5.82% and a net margin of 15.84%. The business had revenue of $303.79 million during the quarter, compared to analysts’ expectations of $303.62 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that Apple Hospitality REIT Inc will post 1.67 earnings per share for the current year.
The firm also recently declared a monthly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 2nd were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $1.20 dividend on an annualized basis and a yield of 7.32%. Apple Hospitality REIT’s dividend payout ratio is presently 69.77%.
In other Apple Hospitality REIT news, Director Daryl Arthur Nickel acquired 24,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $16.44 per share, with a total value of $394,560.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $16.54 per share, for a total transaction of $82,700.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 30,000 shares of company stock worth $493,640. 6.50% of the stock is owned by insiders.
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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