Y Intercept Hong Kong Ltd Raises Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Key Points

• Y Intercept Hong Kong Ltd has increased its holdings in Apple Hospitality REIT by 144.8%, now owning 68,245 shares worth approximately $881,000.
• Apple Hospitality REIT declared a dividend of $0.08 per share, with a dividend yield of 7.7%, to be paid on August 15th.
• Recent analyst movements include BMO Capital Markets downgrading the stock from an "outperform" to a "market perform" rating with a target price decrease from $14.00 to $12.00.

Y Intercept Hong Kong Ltd boosted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 144.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,245 shares of the real estate investment trust's stock after buying an additional 40,366 shares during the period. Y Intercept Hong Kong Ltd's holdings in Apple Hospitality REIT were worth $881,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Apple Hospitality REIT in the 4th quarter valued at about $21,099,000. Martingale Asset Management L P grew its position in Apple Hospitality REIT by 133.4% in the 4th quarter. Martingale Asset Management L P now owns 95,642 shares of the real estate investment trust's stock valued at $1,468,000 after acquiring an additional 54,661 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Apple Hospitality REIT by 2.7% during the first quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock worth $14,350,000 after buying an additional 28,778 shares in the last quarter. Deutsche Bank AG grew its position in shares of Apple Hospitality REIT by 20.9% during the fourth quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock worth $6,019,000 after buying an additional 67,896 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Apple Hospitality REIT by 24.8% during the first quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust's stock worth $6,214,000 after buying an additional 95,606 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Down 1.1%

Shares of Apple Hospitality REIT stock traded down $0.14 on Tuesday, reaching $12.26. 472,789 shares of the company were exchanged, compared to its average volume of 2,799,509. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The company has a market cap of $2.92 billion, a P/E ratio of 15.51 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50 day moving average price is $11.92 and its 200-day moving average price is $12.93.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. The business had revenue of $327.70 million during the quarter, compared to the consensus estimate of $332.86 million. As a group, equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.08 dividend. This represents a yield of 7.7%. The ex-dividend date of this dividend is Thursday, July 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 121.52%.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $14.00 to $12.00 in a research report on Monday, June 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $15.75.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the acquisition, the chairman directly owned 700,344 shares of the company's stock, valued at $8,004,931.92. This trade represents a 1.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 12,000 shares of company stock valued at $137,120 over the last three months. Corporate insiders own 7.10% of the company's stock.

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.