GSA Capital Partners LLP Has $2.13 Million Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Key Points

• GSA Capital Partners LLP significantly increased its holdings in Apple Hospitality REIT by 969.3%, acquiring 149,696 shares to bring its total to 165,140 shares valued at approximately $2.13 million.
• Apple Hospitality REIT recently reported an EPS of $0.32 for the last quarter, exceeding the consensus estimate, but revenue came in lower than expected at $327.7 million.
• The company's dividend of $0.08 per share is set to be paid on August 15th, providing a dividend yield of 7.7% despite a payout ratio of over 121%.

GSA Capital Partners LLP raised its stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 969.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,140 shares of the real estate investment trust's stock after acquiring an additional 149,696 shares during the period. GSA Capital Partners LLP owned 0.07% of Apple Hospitality REIT worth $2,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Summit Investment Advisors Inc. grew its position in Apple Hospitality REIT by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust's stock worth $366,000 after purchasing an additional 755 shares during the last quarter. Isthmus Partners LLC grew its position in Apple Hospitality REIT by 0.5% in the 1st quarter. Isthmus Partners LLC now owns 200,823 shares of the real estate investment trust's stock worth $2,593,000 after purchasing an additional 919 shares during the last quarter. Xponance Inc. grew its position in Apple Hospitality REIT by 6.4% in the 1st quarter. Xponance Inc. now owns 17,385 shares of the real estate investment trust's stock worth $224,000 after purchasing an additional 1,044 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Apple Hospitality REIT by 6.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 18,970 shares of the real estate investment trust's stock worth $245,000 after purchasing an additional 1,100 shares during the last quarter. Finally, PFG Investments LLC increased its stake in Apple Hospitality REIT by 9.2% during the 1st quarter. PFG Investments LLC now owns 13,216 shares of the real estate investment trust's stock valued at $171,000 after buying an additional 1,115 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut 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 research note on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $15.75.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock traded down $0.23 during trading hours on Friday, hitting $11.53. 2,794,764 shares of the company traded hands, compared to its average volume of 2,817,885. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $11.94 and its two-hundred day simple moving average is $12.90. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The firm has a market cap of $2.74 billion, a P/E ratio of 14.60 and a beta of 1.04.

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

Apple Hospitality REIT Dividend Announcement

The company also recently announced a jul 25 dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a $0.08 dividend. This represents a dividend yield of 770.0%. The ex-dividend date of this dividend is Thursday, July 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 121.52%.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 10,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the transaction, the chairman directly owned 700,344 shares in the company, valued at approximately $8,004,931.92. The trade was a 1.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 12,000 shares of company stock valued at $137,120 over the last quarter. Company insiders own 7.10% of the company's stock.

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.