Arrowstreet Capital Limited Partnership Boosts Stock Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Arrowstreet Capital increased its Apple Hospitality REIT stake by 36.4% in the first quarter, adding 88,026 shares to own 329,551 shares valued at approximately $3.8 million. Institutional investors collectively own 89.66% of the company.
• Apple Hospitality REIT reported quarterly earnings of $0.12 per share, exceeding estimates of $0.11, while revenue reached $337.74 million versus expectations of $327.81 million.
• The company announced a monthly dividend of $0.08 per share, representing an annualized yield of about 5.8%. Analysts maintain a consensus “Hold” rating with an average price target of $16.00, compared with shares recently trading at $16.55.

Arrowstreet Capital Limited Partnership boosted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 36.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 329,551 shares of the real estate investment trust's stock after acquiring an additional 88,026 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.14% of Apple Hospitality REIT worth $3,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC increased its stake in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 1,814 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 2,640 shares during the period. Danske Bank A S purchased a new stake in shares of Apple Hospitality REIT in the third quarter valued at about $36,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at about $43,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 1,872 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 0.2%

APLE opened at $16.55 on Tuesday. The business's fifty day moving average is $16.28 and its two-hundred day moving average is $13.85. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 3.23 and a beta of 0.88. Apple Hospitality REIT, Inc. has a one year low of $10.85 and a one year high of $17.13.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to analysts' expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be given a dividend of $0.08 per share. The ex-dividend date is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.8%. Apple Hospitality REIT's payout ratio is presently 131.51%.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares of the company's stock, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on APLE. JPMorgan Chase & Co. raised their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Cantor Fitzgerald increased their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. BMO Capital Markets raised their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, June 12th. Finally, Wells Fargo & Company lifted their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.00.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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