Fuller & Thaler Asset Management Inc. Has $91.25 Million Stock Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its stake in Apple Hospitality REIT, Inc. by 1.0%, now holding approximately 2.97% of the company valued at $91.25 million.
• Apple Hospitality REIT recently reported a quarterly EPS of $0.47, matching analyst expectations, with revenue of $384.37 million exceeding predictions.
• BMO Capital Markets downgraded Apple Hospitality REIT from "outperform" to "market perform," lowering the price target from $14.00 to $12.00.

Fuller & Thaler Asset Management Inc. trimmed its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,068,139 shares of the real estate investment trust's stock after selling 67,795 shares during the period. Fuller & Thaler Asset Management Inc. owned 2.97% of Apple Hospitality REIT worth $91,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in shares of 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 raised its holdings in Apple Hospitality REIT by 20.9% in the fourth quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock valued at $6,019,000 after buying an additional 67,896 shares during the period. Asset Management One Co. Ltd. raised its holdings in Apple Hospitality REIT by 24.8% in the first 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 buying an additional 95,606 shares during the period. Sound Income Strategies LLC raised its holdings in Apple Hospitality REIT by 12.0% in the first 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 buying an additional 108,833 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in Apple Hospitality REIT by 1,511.3% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 145,014 shares of the real estate investment trust's stock valued at $2,226,000 after buying an additional 136,014 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were 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 of the company's stock, valued at $8,668,677.76. This trade represents a 0.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.10% of the stock is owned by company insiders.

Apple Hospitality REIT Stock Performance

APLE stock traded up $0.5350 during trading on Friday, reaching $12.8550. 3,357,801 shares of the company's stock were exchanged, compared to its average volume of 3,030,424. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. 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 moving average price is $12.07 and its 200-day moving average price is $12.55. The firm has a market cap of $3.05 billion, a PE ratio of 17.14 and a beta of 1.08.

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

Apple Hospitality REIT Dividend Announcement

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