Jacobs Levy Equity Management Inc. Makes New $9.06 Million Investment in Apple Hospitality REIT, Inc. $APLE

Jacobs Levy Equity Management Inc. bought a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 701,380 shares of the real estate investment trust's stock, valued at approximately $9,055,000. Jacobs Levy Equity Management Inc. owned approximately 0.29% of Apple Hospitality REIT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in shares of Apple Hospitality REIT by 114.3% during the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock worth $1,732,000 after purchasing an additional 72,553 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth approximately $6,254,000. Royal Bank of Canada raised its position in shares of Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock worth $2,205,000 after purchasing an additional 4,712 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Apple Hospitality REIT in the 1st quarter worth approximately $1,507,000. Finally, Quarry LP grew its stake in 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 worth $66,000 after acquiring an additional 2,019 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company's stock in a transaction that occurred 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 completion of the purchase, the chairman directly owned 705,344 shares in the company, valued at $8,668,677.76. The trade was a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 7.10% of the stock is currently owned by company insiders.

Apple Hospitality REIT Stock Down 0.8%

APLE stock traded down $0.10 during trading on Friday, reaching $12.58. The stock had a trading volume of 2,383,927 shares, compared to its average volume of 2,372,778. The company has a market capitalization of $2.98 billion, a P/E ratio of 16.77 and a beta of 1.05. The firm has a fifty day moving average price of $12.41 and a 200 day moving average price of $12.29. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50.

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

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, August 29th. This represents a yield of 735.0%. Apple Hospitality REIT's dividend payout ratio is 128.00%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 research note on Wednesday, August 27th. BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $14.00 to $12.00 in a research note 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, Apple Hospitality REIT has a consensus rating of "Moderate Buy" and an average price target of $15.00.

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.