Martingale Asset Management L P Buys 103,319 Shares of Apple Hospitality REIT, Inc. $APLE

Key Points

• Martingale Asset Management L P increased its position in Apple Hospitality REIT by 108.0% in Q1, holding nearly 199,000 shares valued at approximately $2.57 million.
• Chairman Glade M. Knight acquired 5,000 shares at an average price of $12.29, raising his total ownership to over 705,000 shares.
• Apple Hospitality REIT's dividend yield is currently at 780.0%, with a recent announcement of a $0.08 dividend to be paid on September 15th.

Martingale Asset Management L P grew its stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 108.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 198,961 shares of the real estate investment trust's stock after buying an additional 103,319 shares during the period. Martingale Asset Management L P owned approximately 0.08% of Apple Hospitality REIT worth $2,569,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC bought a new position in shares of Apple Hospitality REIT in the 1st quarter valued at approximately $40,841,000. Price T Rowe Associates Inc. MD raised its position in shares of Apple Hospitality REIT by 27.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock valued at $126,472,000 after purchasing an additional 1,761,996 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Apple Hospitality REIT by 9.4% in the first quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust's stock worth $95,552,000 after buying an additional 633,688 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Apple Hospitality REIT by 59.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust's stock worth $18,753,000 after buying an additional 540,957 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Apple Hospitality REIT during the 4th quarter worth $5,898,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE traded down $0.10 during trading on Thursday, hitting $13.08. 796,949 shares of the stock were exchanged, compared to its average volume of 2,851,871. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 17.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The company's fifty day simple moving average is $12.15 and its 200-day simple moving average is $12.49.

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 EPS for the quarter, meeting analysts' consensus estimates of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The business had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. Sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.08 per share. This represents a dividend yield of 780.0%. The ex-dividend date is Friday, August 29th. Apple Hospitality REIT's payout ratio is 128.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APLE. BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $14.00 to $12.00 in a research report on Monday, June 9th. Wells Fargo & Company increased their target price on Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the purchase, the chairman directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.10% of the stock is currently 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, 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.