Pacer Advisors Inc. Takes Position in Apple Hospitality REIT, Inc. $APLE

Key Points

• Pacer Advisors initiated a new position in Apple Hospitality REIT, buying 970,332 shares worth about $11.5 million and holding 0.41% of the company, according to its latest 13F filing.
• Apple Hospitality REIT reported better-than-expected first-quarter results, with EPS of $0.12 versus $0.11 expected and revenue of $337.74 million versus $327.81 million estimated.
• The company declared a monthly dividend of $0.08 per share, implying a 7.0% annualized yield, while Wall Street sentiment remains cautious with an average Hold rating and a consensus target price of $12.93.

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

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Group AG lifted its stake in shares of 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 during the period. Dimensional Fund Advisors LP lifted its stake in shares of Apple Hospitality REIT by 7.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust's stock valued at $39,707,000 after purchasing an additional 215,355 shares during the period. Centerbridge Partners L.P. lifted its stake in shares of Apple Hospitality REIT by 18.4% in the 3rd quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust's stock valued at $26,996,000 after purchasing an additional 350,000 shares during the period. Bank of America Corp DE lifted its stake in shares of Apple Hospitality REIT by 11.6% in the 3rd quarter. Bank of America Corp DE now owns 2,125,063 shares of the real estate investment trust's stock valued at $25,522,000 after purchasing an additional 220,434 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Apple Hospitality REIT by 26.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,781,420 shares of the real estate investment trust's stock valued at $20,789,000 after purchasing an additional 374,979 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Stock Down 0.2%

Shares of NYSE:APLE opened at $13.81 on Thursday. The stock has a fifty day simple moving average of $12.48 and a two-hundred day simple moving average of $12.15. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 8.26 and a beta of 0.88. Apple Hospitality REIT, Inc. has a 12-month low of $10.85 and a 12-month high of $14.19. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $337.74 million during the quarter, compared to analysts' expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.55 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 131.51%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APLE. Cantor Fitzgerald raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday. Barclays lowered their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, April 7th. LADENBURG THALM/SH SH initiated coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They set a "neutral" rating and a $13.00 price objective for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.93.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $13.96 per share, with a total value of $69,800.00. Following the acquisition, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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