MYDA Advisors LLC Cuts Holdings in Apple Hospitality REIT, Inc. $APLE

Key Points

• MYDA Advisors LLC has reduced its stake in Apple Hospitality REIT by 66.7%, selling 200,000 shares and retaining only 100,000, valued at approximately $1.29 million.
• Apple Hospitality REIT's chairman, Glade M. Knight, purchased 5,000 shares at $12.29 each, increasing his ownership to 705,344 shares with a total value of about $8.67 million.
• The company announced a $0.08 dividend payable on September 15, with an impressive yield of 780.0%, although its dividend payout ratio stands at 128.00%.

MYDA Advisors LLC reduced its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 66.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,000 shares of the real estate investment trust's stock after selling 200,000 shares during the quarter. MYDA Advisors LLC's holdings in Apple Hospitality REIT were worth $1,291,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in APLE. Principal Financial Group Inc. boosted its position in shares of Apple Hospitality REIT by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock valued at $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. boosted its position in shares of Apple Hospitality REIT by 24.8% in 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 purchasing an additional 95,606 shares during the period. Sound Income Strategies LLC boosted its position in shares of Apple Hospitality REIT by 12.0% in 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 purchasing an additional 108,833 shares during the period. Finally, KBC Group NV boosted its position in shares of Apple Hospitality REIT by 29.9% in the 1st quarter. KBC Group NV now owns 12,025 shares of the real estate investment trust's stock valued at $155,000 after purchasing an additional 2,768 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company upped their target price on Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. BMO Capital Markets cut Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their target price 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average cost of $12.29 per share, with a total value of $61,450.00. Following the purchase, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. This represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.10% of the company's stock.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock traded down $0.31 during mid-day trading on Tuesday, reaching $12.76. 563,745 shares of the company were exchanged, compared to its average volume of 2,852,019. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The firm's 50-day simple moving average is $12.24 and its two-hundred day simple moving average is $12.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.02 billion, a PE ratio of 17.02 and a beta of 1.05.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting 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 company had revenue of $384.37 million during the quarter, compared to analysts' expectations of $381.37 million. Equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.08 per share. 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%.

Apple Hospitality REIT Company 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.