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

A number of other hedge funds also recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 2,386 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Apple Hospitality REIT in the fourth quarter worth about $64,000. Quarry LP raised its position in shares of Apple Hospitality REIT by 64.8% during the 1st quarter. Quarry LP now owns 5,137 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 2,019 shares during the last quarter. State of Wyoming purchased a new position in shares of Apple Hospitality REIT during the 1st quarter worth approximately $127,000. Finally, Blue Trust Inc. raised its holdings in shares of Apple Hospitality REIT by 16.9% in the 1st quarter. Blue Trust Inc. now owns 9,934 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 1,438 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company's stock.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Tuesday, August 19th. The stock was bought at an average cost of $12.29 per share, with a total value of $61,450.00. Following the completion of the purchase, the chairman owned 705,344 shares of the company's stock, valued at $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APLE has been the subject of a number of recent analyst reports. BMO Capital Markets downgraded shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $14.00 to $12.00 in a report on Monday, June 9th. Wells Fargo & Company lifted their price objective on Apple Hospitality REIT from $12.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Apple Hospitality REIT Stock Performance

APLE traded down $0.16 during trading on Monday, hitting $12.88. The company's stock had a trading volume of 1,069,695 shares, compared to its average volume of 2,835,616. The firm has a market cap of $3.05 billion, a PE ratio of 17.19 and a beta of 1.05. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The business's 50 day simple moving average is $12.34 and its 200-day simple moving average is $12.34.

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

Apple Hospitality REIT Announces Dividend

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.08 per share. This represents a dividend yield of 735.0%. The ex-dividend date of this dividend is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio is 128.00%.

About Apple Hospitality REIT

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.