Cubist Systematic Strategies LLC Acquires Shares of 484,404 Apple Hospitality REIT, Inc. $APLE

Key Points

• Cubist Systematic Strategies LLC acquired a new stake in Apple Hospitality REIT, buying 484,404 shares valued at approximately $6.25 million, representing about 0.20% ownership of the company.
• In other recent activity, institutional investors such as Principal Financial Group and Deutsche Bank AG have increased their stakes in Apple Hospitality REIT, indicating strong institutional interest in the stock.
• The company reported quarterly earnings of $0.47 per share, meeting analysts' expectations, along with a revenue of $384.37 million, slightly above estimates.

Cubist Systematic Strategies LLC purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 484,404 shares of the real estate investment trust's stock, valued at approximately $6,254,000. Cubist Systematic Strategies LLC owned approximately 0.20% of Apple Hospitality REIT at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in APLE. Principal Financial Group Inc. boosted its stake in Apple Hospitality REIT by 2.7% in the first 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 in the last quarter. Deutsche Bank AG raised 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 period. Asset Management One Co. Ltd. increased its stake in Apple Hospitality REIT by 24.8% during 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 acquiring an additional 95,606 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Apple Hospitality REIT by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust's stock valued at $13,127,000 after acquiring an additional 108,833 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Apple Hospitality REIT by 29.9% during the 1st quarter. KBC Group NV now owns 12,025 shares of the real estate investment trust's stock worth $155,000 after buying an additional 2,768 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the acquisition, the chairman owned 705,344 shares of the company's stock, valued at approximately $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 7.10% of the company's stock.

Apple Hospitality REIT Trading Down 1.3%

NYSE APLE traded down $0.16 during trading hours on Tuesday, hitting $12.68. 629,816 shares of the company's stock were exchanged, compared to its average volume of 2,827,828. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The stock has a 50-day simple moving average of $12.36 and a 200 day simple moving average of $12.33. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 16.90 and a beta of 1.05.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The firm had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. On average, equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.08 dividend. The ex-dividend date is Friday, August 29th. This represents a yield of 735.0%. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 128.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. BMO Capital Markets lowered shares of 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. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Apple Hospitality REIT currently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Apple Hospitality REIT Company 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.