Edgestream Partners L.P. Buys Shares of 165,585 Apple Hospitality REIT, Inc. (NYSE:APLE)

Edgestream Partners L.P. acquired a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 165,585 shares of the real estate investment trust's stock, valued at approximately $2,138,000. Edgestream Partners L.P. owned about 0.07% of Apple Hospitality REIT at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Apple Hospitality REIT by 27.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock valued at $126,472,000 after buying an additional 1,761,996 shares in the last quarter. Northern Trust Corp lifted its stake in Apple Hospitality REIT by 6.9% in the fourth quarter. Northern Trust Corp now owns 3,259,501 shares of the real estate investment trust's stock valued at $50,033,000 after buying an additional 209,698 shares in the last quarter. Systematic Financial Management LP lifted its stake in Apple Hospitality REIT by 3.0% in the fourth quarter. Systematic Financial Management LP now owns 2,163,458 shares of the real estate investment trust's stock valued at $33,209,000 after buying an additional 63,581 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apple Hospitality REIT by 1.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,484,034 shares of the real estate investment trust's stock valued at $22,780,000 after buying an additional 22,692 shares in the last quarter. Finally, Norges Bank bought a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $21,099,000. Institutional investors own 89.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets downgraded shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $14.00 to $12.00 in a report on Monday, June 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $15.75.

Insider Activity

In other news, Chairman Glade M. Knight bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the acquisition, the chairman directly owned 700,344 shares in the company, valued at approximately $8,004,931.92. This trade represents a 1.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 12,000 shares of company stock worth $137,120. 7.10% of the stock is currently owned by corporate insiders.

Apple Hospitality REIT Price Performance

APLE traded up $0.07 on Friday, hitting $12.34. 2,877,338 shares of the stock were exchanged, compared to its average volume of 2,410,243. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The business has a 50-day moving average of $11.87 and a two-hundred day moving average of $13.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 15.62 and a beta of 1.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. The firm had revenue of $327.70 million during the quarter, compared to the consensus estimate of $332.86 million. Sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be issued a dividend of $0.08 per share. Apple Hospitality REIT's payout ratio is 121.52%.

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.