Neo Ivy Capital Management Decreases Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Neo Ivy Capital Management trimmed its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 76.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,233 shares of the real estate investment trust's stock after selling 91,547 shares during the period. Neo Ivy Capital Management's holdings in Apple Hospitality REIT were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT in the fourth quarter valued at $31,000. Quarry LP lifted its position in shares of Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,751 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at about $51,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Apple Hospitality REIT during the fourth quarter valued at about $92,000. Finally, Quadrant Capital Group LLC increased its position in shares of Apple Hospitality REIT by 20.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust's stock valued at $104,000 after buying an additional 1,128 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company lowered their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.80.

Insider Buying and Selling

In other news, Chairman Glade M. Knight acquired 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the acquisition, the chairman now directly owns 700,344 shares in the company, valued at approximately $8,004,931.92. The trade was a 1.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 12,000 shares of company stock worth $137,120 in the last quarter. Corporate insiders own 7.10% of the company's stock.

Apple Hospitality REIT Stock Up 0.1%

APLE traded up $0.01 during midday trading on Wednesday, reaching $11.79. The company's stock had a trading volume of 2,672,339 shares, compared to its average volume of 2,269,946. The stock's 50-day moving average is $11.94 and its 200-day moving average is $14.09. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 13.87 and a beta of 1.07. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted 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. The company had revenue of $327.70 million during the quarter, compared to analyst estimates of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. As a group, research 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 declared a may 25 dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $0.08 dividend. This represents a dividend yield of 8.3%. The ex-dividend date is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio is presently 121.52%.

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.