Fuller & Thaler Asset Management Inc. Cuts Holdings 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. lowered its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 2.97% of Apple Hospitality REIT worth $91,250,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. 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. raised its position 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 valued at $95,552,000 after purchasing an additional 633,688 shares during the period. Northern Trust Corp raised its position in shares of Apple Hospitality REIT by 6.9% in the fourth quarter. Northern Trust Corp now owns 3,259,501 shares of the real estate investment trust's stock valued at $50,033,000 after purchasing an additional 209,698 shares during the period. Nuveen LLC bought a new stake in shares of Apple Hospitality REIT in the first quarter valued at approximately $40,841,000. Finally, LSV Asset Management raised its position in shares of Apple Hospitality REIT by 2.1% in the first quarter. LSV Asset Management now owns 2,519,277 shares of the real estate investment trust's stock valued at $32,524,000 after purchasing an additional 52,734 shares during the period. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

NYSE:APLE traded up $0.5350 during mid-day trading on Friday, hitting $12.8550. 3,357,487 shares of the stock traded hands, compared to its average volume of 2,856,607. The business's 50-day moving average price is $12.05 and its 200 day moving average price is $12.57. The company has a market cap of $3.05 billion, a PE ratio of 17.14 and a beta of 1.08. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. 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 (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $384.37 million during the quarter, compared to analysts' expectations of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. On average, 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 disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a yield of 780.0%. Apple Hospitality REIT's payout ratio is currently 128.00%.

Insider Buying and Selling

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $12.29 per share, with a total value of $61,450.00. Following the purchase, the chairman directly owned 705,344 shares in the company, valued at approximately $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lowered shares of 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. Two 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.75.

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.