AlphaQuest LLC Acquires New Shares 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 acquired a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 66,337 shares of the real estate investment trust's stock, valued at approximately $856,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of APLE. Principal Financial Group Inc. increased its holdings in Apple Hospitality REIT by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock worth $14,350,000 after purchasing an additional 28,778 shares during the period. Deutsche Bank AG boosted its position in shares of Apple Hospitality REIT by 20.9% in the 4th quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock valued at $6,019,000 after purchasing an additional 67,896 shares during the period. Asset Management One Co. Ltd. raised its stake in Apple Hospitality REIT by 24.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust's stock valued at $6,214,000 after acquiring an additional 95,606 shares during the last quarter. Sound Income Strategies LLC raised its stake in Apple Hospitality REIT by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust's stock valued at $13,127,000 after acquiring an additional 108,833 shares during the last quarter. Finally, KBC Group NV raised its stake in Apple Hospitality REIT by 29.9% during the 1st quarter. KBC Group NV now owns 12,025 shares of the real estate investment trust's stock valued at $155,000 after acquiring an additional 2,768 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $12.29 per share, with a total value of $61,450.00. Following the purchase, the chairman directly owned 705,344 shares of the company's stock, valued at approximately $8,668,677.76. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 7.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company upped their price objective on Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday. BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $14.00 to $12.00 in a research note on Monday, June 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Apple Hospitality REIT has an average rating of "Moderate Buy" and an average price target of $15.00.

Apple Hospitality REIT Stock Performance

Shares of APLE stock traded down $0.08 during trading hours on Friday, reaching $13.07. 3,816,053 shares of the company's stock were exchanged, compared to its average volume of 3,156,125. The company has a market cap of $3.10 billion, a P/E ratio of 17.42 and a beta of 1.08. The company's 50 day moving average is $12.22 and its two-hundred day moving average is $12.44. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.47. The business had revenue of $384.37 million during the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.08 dividend. This represents a yield of 735.0%. The ex-dividend date of this dividend is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 128.00%.

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.