Edgestream Partners L.P. Reduces Stock Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Edgestream Partners cut its Apple Hospitality REIT stake by 29% in the first quarter, selling 72,392 shares and retaining 176,910 shares worth approximately $2.04 million. Institutional investors collectively own 89.66% of the company.
• Analyst sentiment remains cautious: APLE has an average rating of “Hold” and a consensus price target of $16.00, despite several analysts recently raising their targets.
• Apple Hospitality reported quarterly EPS of $0.12, beating estimates, and revenue of $337.74 million. The REIT also announced a monthly dividend of $0.08 per share, implying an annualized yield of about 5.8%.

Edgestream Partners L.P. lessened its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 29.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,910 shares of the real estate investment trust's stock after selling 72,392 shares during the quarter. Edgestream Partners L.P. owned approximately 0.07% of Apple Hospitality REIT worth $2,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Private Advisor Group LLC boosted its stake in shares of Apple Hospitality REIT by 7.9% during the third quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust's stock valued at $167,000 after purchasing an additional 1,022 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Apple Hospitality REIT by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust's stock worth $2,764,000 after acquiring an additional 1,068 shares during the period. MML Investors Services LLC raised its stake in shares of Apple Hospitality REIT by 1.4% during the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust's stock valued at $937,000 after acquiring an additional 1,100 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Apple Hospitality REIT by 9.3% during the 4th quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust's stock worth $160,000 after buying an additional 1,149 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Apple Hospitality REIT by 16.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust's stock worth $99,000 after acquiring an additional 1,160 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on APLE shares. Cantor Fitzgerald boosted their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Barclays reissued an "equal weight" rating and issued a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a report on Tuesday, July 21st. BMO Capital Markets lifted their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a research note on Friday, June 12th. LADENBURG THALM/SH SH raised their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Finally, JPMorgan Chase & Co. boosted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.00.

Apple Hospitality REIT Trading Down 0.0%

Shares of Apple Hospitality REIT stock opened at $16.50 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The stock's 50 day simple moving average is $16.24 and its 200-day simple moving average is $13.82. Apple Hospitality REIT, Inc. has a 1-year low of $10.85 and a 1-year high of $17.13. The stock has a market cap of $3.90 billion, a P/E ratio of 22.61, a P/E/G ratio of 3.23 and a beta of 0.88.

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

Apple Hospitality REIT Announces Dividend

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

Apple Hospitality REIT 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.