Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1,133.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,522 shares of the real estate investment trust's stock after purchasing an additional 55,617 shares during the quarter. GAMMA Investing LLC's holdings in Apple Hospitality REIT were worth $7,810,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Apple Hospitality REIT in the fourth quarter valued at $21,099,000. Charles Schwab Investment Management Inc. lifted its stake in Apple Hospitality REIT by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock valued at $70,465,000 after buying an additional 133,505 shares during the last quarter. Martingale Asset Management L P lifted its stake in Apple Hospitality REIT by 133.4% in the fourth 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 buying an additional 54,661 shares during the last quarter. Deutsche Bank AG lifted its stake 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 last quarter. Finally, Raymond James Financial Inc. bought a new stake in Apple Hospitality REIT in the fourth quarter valued at $3,844,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $11.76 on Monday. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.44 and a fifty-two week high of $16.50. The firm's 50-day simple moving average is $11.71 and its 200 day simple moving average is $13.86. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.80 billion, a P/E ratio of 13.84 and a beta of 1.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. Equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a may 25 dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.08 per share. This represents a dividend yield of 8.3%. The ex-dividend date is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio is currently 121.52%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 10,000 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the transaction, the chairman now owns 700,344 shares in the company, valued at $8,004,931.92. The trade was a 1.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 12,000 shares of company stock worth $137,120 over the last ninety days. 7.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.25.

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.

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