AlphaQuest LLC Makes New $856,000 Investment in Apple Hospitality REIT, Inc. $APLE

Key Points

• AlphaQuest LLC has made a new investment of approximately $856,000 in Apple Hospitality REIT by purchasing 66,337 shares, as disclosed in a recent SEC filing.
• The company reported earnings per share of $0.47 for the quarter, meeting analyst expectations, with a revenue of $384.37 million, surpassing estimates.
• Apple Hospitality REIT's recent dividend announcement includes a payment of $0.08 per share, reflecting a yield of 780.0%, set to be paid on September 15th.

AlphaQuest LLC purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 66,337 shares of the real estate investment trust's stock, valued at approximately $856,000.

Other large investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 2,386 shares during the period. Quarry LP lifted its stake in shares of Apple Hospitality REIT by 128.1% during the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,751 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth $64,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Apple Hospitality REIT during the 4th quarter worth $92,000. Finally, Blue Trust Inc. raised its position in shares of Apple Hospitality REIT by 16.9% in the 1st quarter. Blue Trust Inc. now owns 9,934 shares of the real estate investment trust's stock worth $128,000 after buying an additional 1,438 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $12.8550 on Monday. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The stock has a market capitalization of $3.05 billion, a P/E ratio of 17.14 and a beta of 1.08. 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 business's fifty day moving average price is $12.07 and its 200 day moving average price is $12.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $381.37 million. As a group, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $0.08 dividend. This represents a yield of 780.0%. The ex-dividend date is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio is currently 128.00%.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets cut Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $14.00 to $12.00 in a report on Monday, June 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the acquisition, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.10% of the company's stock.

About Apple Hospitality REIT

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.

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