Louisiana State Employees Retirement System Makes New $1.12 Million Investment in Apple Hospitality REIT, Inc. $APLE

Key Points

• Louisiana State Employees Retirement System bought a new stake in Apple Hospitality REIT, purchasing 97,600 shares worth about $1.12 million in the first quarter.
• Apple Hospitality REIT also drew continued institutional interest, with several large funds adding or initiating positions; institutional investors now own 89.66% of the company.
• The REIT reported better-than-expected quarterly results, with EPS of $0.12 versus estimates of $0.11, and it announced a monthly dividend of $0.08 per share, implying an annualized yield of 5.8%.

Louisiana State Employees Retirement System bought a new position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 97,600 shares of the real estate investment trust's stock, valued at approximately $1,123,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Apple Hospitality REIT during the fourth quarter worth about $40,950,000. Centerbridge Partners L.P. lifted its position in Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust's stock valued at $50,123,000 after purchasing an additional 1,982,000 shares during the period. UBS Group AG boosted its holdings in Apple Hospitality REIT by 60.8% in the 4th quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust's stock valued at $55,950,000 after purchasing an additional 1,786,018 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Apple Hospitality REIT in the 4th quarter valued at approximately $13,361,000. Finally, Pacer Advisors Inc. acquired a new position in Apple Hospitality REIT during the 4th quarter worth approximately $11,498,000. Hedge funds and other institutional investors own 89.66% of the company's stock.

Insider Buying and Selling

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares of the company's stock, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.90% of the company's stock.

Apple Hospitality REIT Trading Down 0.1%

Shares of Apple Hospitality REIT stock opened at $16.62 on Friday. Apple Hospitality REIT, Inc. has a 12-month low of $10.85 and a 12-month high of $17.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market cap of $3.92 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 8.13 and a beta of 0.87. The company has a 50-day moving average of $15.11 and a two-hundred day moving average of $13.18.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, June 30th. Apple Hospitality REIT's payout ratio is presently 131.51%.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of analyst reports. Weiss Ratings raised Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. Wells Fargo & Company lifted their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an "equal weight" rating in a research note on Monday, June 1st. BMO Capital Markets upped their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a "market perform" rating in a report on Friday, June 12th. LADENBURG THALM/SH SH increased their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Finally, Barclays raised their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.94.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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