Graham Capital Management L.P. Takes $1.51 Million Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Graham Capital Management L.P. has acquired a new stake in Apple Hospitality REIT, Inc., totaling 116,745 shares valued at approximately $1.51 million.
• Apple Hospitality REIT reported $0.47 earnings per share for its last quarter, matching analysts' expectations, with revenues of $384.37 million.
• Institutional investors hold 89.66% of Apple Hospitality REIT's stock, indicating strong institutional confidence in the company's prospects.

Graham Capital Management L.P. acquired a new stake in 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 SEC. The institutional investor acquired 116,745 shares of the real estate investment trust's stock, valued at approximately $1,507,000.

Several other large investors also recently made changes to their positions in the stock. Quarry LP boosted its holdings in shares of Apple Hospitality REIT by 64.8% in the 1st quarter. Quarry LP now owns 5,137 shares of the real estate investment trust's stock valued at $66,000 after buying an additional 2,019 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Apple Hospitality REIT by 3.9% in the 1st quarter. Baird Financial Group Inc. now owns 136,174 shares of the real estate investment trust's stock valued at $1,758,000 after buying an additional 5,116 shares during the last quarter. State of Wyoming acquired a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at approximately $127,000. Samalin Investment Counsel LLC acquired a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at approximately $213,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at approximately $1,815,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Trading Down 1.7%

Shares of Apple Hospitality REIT stock opened at $12.83 on Wednesday. The business has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $12.41. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 17.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78.

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

Apple Hospitality REIT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APLE shares. BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $14.00 to $12.00 in a report on Monday, June 9th. Wells Fargo & Company raised their price target 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.00.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the transaction, the chairman directly owned 705,344 shares of the company's stock, valued at approximately $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.10% of the stock is owned by insiders.

Apple Hospitality REIT 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.

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