Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Bought by LSV Asset Management

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

Several other large investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter worth $31,000. Versant Capital Management Inc boosted its stake in shares of Apple Hospitality REIT by 569.5% in the first quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after buying an additional 2,386 shares during the last quarter. Quarry LP grew its holdings in Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 1,751 shares during the period. GF Fund Management CO. LTD. purchased a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $64,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $92,000. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Price Performance

NYSE APLE traded up $0.15 on Thursday, hitting $11.73. The company had a trading volume of 2,817,905 shares, compared to its average volume of 2,860,386. The company's fifty day moving average price is $11.94 and its 200-day moving average price is $12.81. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. The company has a market capitalization of $2.79 billion, a PE ratio of 14.85 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84.

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 EPS for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. As a group, analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company 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 shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and cut their target price for the company from $14.00 to $12.00 in a report on Monday, June 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price 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.