Intech Investment Management LLC Raises Holdings in Apple Hospitality REIT, Inc. $APLE

Key Points

• Intech Investment Management LLC increased its stake in Apple Hospitality REIT by 36.8%, acquiring an additional 41,792 shares, bringing its total holdings to 155,289 shares valued at approximately $2 million.
• The company reported a net revenue of $384.37 million for the quarter, exceeding analyst expectations, alongside an earnings per share of $0.47.
• Apple Hospitality REIT announced a dividend of $0.08 per share with a yield of 735.0%, despite a high dividend payout ratio of 128.00%.

Intech Investment Management LLC grew its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 36.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,289 shares of the real estate investment trust's stock after purchasing an additional 41,792 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Apple Hospitality REIT worth $2,005,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Apple Hospitality REIT by 10.0% during the first quarter. Empowered Funds LLC now owns 24,588 shares of the real estate investment trust's stock worth $317,000 after buying an additional 2,238 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Apple Hospitality REIT in the 1st quarter valued at $57,000. Jones Financial Companies Lllp increased its stake in Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock valued at $280,000 after buying an additional 21,495 shares during the last quarter. PharVision Advisers LLC increased its stake in shares of Apple Hospitality REIT by 8.0% during the 1st quarter. PharVision Advisers LLC now owns 14,263 shares of the real estate investment trust's stock worth $184,000 after purchasing an additional 1,058 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 1,814 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Insider Transactions at Apple Hospitality REIT

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

Apple Hospitality REIT Stock Down 1.3%

Shares of Apple Hospitality REIT stock traded down $0.17 during trading hours on Friday, reaching $12.49. The company's stock had a trading volume of 6,670,537 shares, compared to its average volume of 2,353,427. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. The stock's fifty day simple moving average is $12.44 and its two-hundred day simple moving average is $12.24. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50. The company has a market capitalization of $2.96 billion, a P/E ratio of 16.65 and a beta of 1.05.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The company had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a oct 25 dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.08 dividend. This represents a dividend yield of 758.0%. The ex-dividend date is Tuesday, September 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is 128.00%.

Analysts Set New Price Targets

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

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.