Invesco Ltd. Increases Stock Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Invesco Ltd. has increased its holdings in Apple Hospitality REIT by 4.2%, owning approximately 1,267,201 shares worth $16.36 million after acquiring an additional 50,991 shares in the first quarter.
• Insider activity includes Chairman Glade M. Knight purchasing 5,000 shares at $12.29 each, increasing his stake to a total of 705,344 shares valued at approximately $8.67 million.
• Apple Hospitality REIT plans to pay a $0.08 per share dividend on September 15, with a heavy dividend payout ratio of 128%, indicating a robust return for shareholders.

Invesco Ltd. lifted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,267,201 shares of the real estate investment trust's stock after buying an additional 50,991 shares during the period. Invesco Ltd. owned about 0.53% of Apple Hospitality REIT worth $16,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APLE. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 1,761,996 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Apple Hospitality REIT by 9.4% in the 1st quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust's stock valued at $95,552,000 after buying an additional 633,688 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Apple Hospitality REIT by 59.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust's stock valued at $18,753,000 after buying an additional 540,957 shares during the period. Woodline Partners LP acquired a new position in shares of Apple Hospitality REIT in the 4th quarter valued at $5,898,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Apple Hospitality REIT in the 4th quarter worth $5,451,000. Institutional investors own 89.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Apple Hospitality REIT from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday. BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $14.00 to $12.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the purchase, the chairman owned 705,344 shares of the company's stock, valued at $8,668,677.76. This represents a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company's stock.

Apple Hospitality REIT Trading Down 0.2%

NYSE APLE traded down $0.03 during mid-day trading on Thursday, reaching $13.15. 2,132,810 shares of the stock were exchanged, compared to its average volume of 3,207,987. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $16.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $3.12 billion, a P/E ratio of 17.53 and a beta of 1.08. The stock has a 50 day simple moving average of $12.19 and a 200-day simple moving average of $12.48.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.08 per share. This represents a dividend yield of 780.0%. The ex-dividend date is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio is presently 128.00%.

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.