Redpoint Investment Management Pty Ltd reduced its stake in Apple Hospitality REIT, Inc. (NYSE: APLE – Get Rating) by 27.3% in the first quarter, according to the company in its latest disclosure to the Securities and Exchange Commission (SEC). ). The company owned 12,475 shares of real estate investment trust shares after selling 4,683 shares in the quarter. Redpoint Investment Management Pty Ltd owns $ 224,000 at Apple Hospitality REIT since its last SEC filing.
Several other hedge funds and other institutional investors have also recently changed their holdings. Long Pond Capital LP acquired a new stake in Apple Hospitality REIT in the fourth quarter worth $ 10,138,000. The Investment Board of the Canadian Pension Plan increased its position in Apple Hospitality REIT by 41.0% in the fourth quarter. The Investment Board of the Canadian Pension Plan already owns 260,800 shares of the real estate investment trust worth $ 4,212,000 after acquiring an additional 75,800 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Apple Hospitality REIT in the fourth quarter worth $ 81,000. State Street Corp increased its position in Apple Hospitality REIT by 6.7% in the fourth quarter. State Street Corp. now owns 9,057,058 shares of the real estate investment trust worth $ 146,361,000 after acquiring an additional 570,210 shares in the last quarter. Finally, Nissay Asset Management Corp. Japan ADV increased its position in Apple Hospitality REIT by 6.2% in the fourth quarter. Nissay Asset Management Corp. Japan ADV now owns 23,263 shares of the $ 376,000 real estate investment trust after gaining an additional 1,351 shares in the last quarter. 78.99% of the shares are owned by hedge funds and other institutional investors.
APLE has been the subject of several analyst reports. Barclays raised its price target for the Apple Hospitality REIT from $ 19.00 to $ 21.00 in a research report on Tuesday, March 1st. B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a price target for the company of $ 19.00 in a research report on Thursday, June 16. Oppenheimer began covering Apple Hospitality REIT in a research report on Thursday, April 21st. They issued a “superiority” rating and a target price of $ 23.00 for the company. TheStreet downgraded Apple Hospitality REIT from a “b-” rating to “c” in a research report on Thursday, April 7. Finally, StockNews.com began covering Apple Hospitality REIT in a research report on Thursday, March 31st. They issued a “retention” rating to the company. One analyst rated the shares with a sell rating, one assigned a hold rating and three rated the buy rating. Based on data from MarketBeat, the company currently has an average Hold rating and a consensus target of $ 21.00.
In other news at Apple Hospitality REIT, chairman Glade M. Knight bought 5,000 shares of the company’s shares in a deal on Monday, May 16th. The shares were purchased at an average price of $ 16.22 per share, with a total value of $ 81,100.00. Following the purchase, the chairman now owns 488,093 shares of the company worth $ 7,916,868.46. The transaction is disclosed in documentation in the Securities and Exchange Commission, which is available through this link. In the last three months, insiders acquired 7,342 shares of the company worth $ 117,451. 6.80% of the shares are owned by corporate insiders.
Shares of Apple Hospitality REIT opened at $ 14.99 on Friday. The shares have a market capitalization of $ 3.43 billion, a PE ratio of 40.51 and a beta of 1.06. The stock has a 50-day moving average price of $ 16.52 and a 200-day moving average price of $ 16.76. Apple Hospitality REIT, Inc. has a 52-week low of $ 13.83 and a 52-week high of $ 18.69. The company has a current ratio of 0.91, a fast ratio of 0.91 and a debt to equity ratio of 0.49.
Apple Hospitality REIT (NYSE: APLE – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The real estate investment fund reported $ 0.08 EPS for the quarter, beating analysts’ consensus estimates of $ 0.05 by $ 0.03. Apple Hospitality REIT had a return on equity of 2.65% and a net profit of 8.04%. In the same quarter of the previous year, the company reported $ 0.04 earnings per share. On average, stock analysts predict that Apple Hospitality REIT, Inc. will report 1.51 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, July 15. The record shareholders on Tuesday, July 5, will receive a dividend of $ 0.05. This represents a dividend of $ 0.60 on an annual basis and a yield of 4.00%. The date of the former dividend is Friday, July 1. The payout ratio of Apple Hospitality REIT is 162.16%.
About Apple Hospitality REIT (Get a rating)
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 luxury hotels focused on rooms in the United States. Apple Hospitality’s portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets in 34 states.
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