LSV Asset Management Has $32.52 Million Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Key Points

• LSV Asset Management increased its stake in Apple Hospitality REIT (NYSE:APLE) by 2.1%, owning a total of 2,519,277 shares worth approximately $32.5 million at the end of the last quarter.
• BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" to a "market perform" rating, reducing its price target from $14.00 to $12.00.
• Insider trading activity included Chairman Glade M. Knight purchasing 10,000 shares at a cost of $11.43 per share, increasing his total ownership in the company.

LSV Asset Management increased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,519,277 shares of the real estate investment trust's stock after buying an additional 52,734 shares during the quarter. LSV Asset Management owned 1.06% of Apple Hospitality REIT worth $32,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at about $21,099,000. Martingale Asset Management L P raised its holdings 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 worth $1,468,000 after purchasing an additional 54,661 shares during the period. Principal Financial Group Inc. raised its holdings in 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 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 4th quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock worth $6,019,000 after purchasing an additional 67,896 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in 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 worth $6,214,000 after purchasing an additional 95,606 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

NYSE:APLE traded up $0.08 during trading hours on Tuesday, reaching $11.72. 3,411,930 shares of the company's stock were exchanged, compared to its average volume of 3,020,804. The company has a market capitalization of $2.79 billion, a P/E ratio of 14.84 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 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.51. The business's 50-day simple moving average is $11.94 and its two-hundred day simple moving average is $12.82.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, July 31st. This represents a dividend yield of 770.0%. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 121.52%.

Analyst Ratings Changes

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