Pacer Advisors Inc. Purchases Shares of 970,332 Apple Hospitality REIT, Inc. $APLE

Key Points

• Pacer Advisors bought a new stake in Apple Hospitality REIT, acquiring 970,332 shares valued at about $11.5 million in the fourth quarter. The position represented roughly 0.41% of the company.
• Apple Hospitality REIT reported better-than-expected quarterly results, posting EPS of $0.12 versus the $0.11 estimate and revenue of $337.74 million versus expectations of $327.81 million.
• The company announced a monthly dividend of $0.08 per share, implying a 5.8% yield, while analysts currently have a consensus rating of Hold with an average price target of $14.94.

Pacer Advisors Inc. acquired a new position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 970,332 shares of the real estate investment trust's stock, valued at approximately $11,498,000. Pacer Advisors Inc. owned approximately 0.41% of Apple Hospitality REIT at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock worth $2,205,000 after buying an additional 4,712 shares in the last quarter. AQR Capital Management LLC increased its holdings in Apple Hospitality REIT by 114.3% in the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock valued at $1,732,000 after buying an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Apple Hospitality REIT by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock valued at $1,776,000 after buying an additional 6,788 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Apple Hospitality REIT by 295.9% in the first 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 in the last quarter. Finally, Jones Financial Companies Lllp raised its position in shares of Apple Hospitality REIT by 10,235.7% in the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock worth $280,000 after acquiring an additional 21,495 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

APLE opened at $16.61 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 8.10 and a beta of 0.89. Apple Hospitality REIT, Inc. has a 52-week low of $10.85 and a 52-week high of $16.71. The firm's fifty day simple moving average is $14.30 and its two-hundred day simple moving average is $12.83.

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

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a c) annualized dividend 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 Ratings Changes

APLE has been the topic of several recent analyst reports. LADENBURG THALM/SH SH increased their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday. Barclays lifted their price target on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They set a "neutral" rating and a $15.00 price target on the stock. Cantor Fitzgerald increased their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $14.94.

Insider Transactions at Apple Hospitality REIT

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

Apple Hospitality REIT 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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