Public Employees Retirement System of Ohio Invests $4.21 Million in Apple Hospitality REIT, Inc. $APLE

Key Points

• Public Employees Retirement System of Ohio acquired 250,768 shares of Apple Hospitality REIT, valued at approximately $4.21 million, giving it a 0.11% stake. Institutional investors collectively own 89.66% of the company.
• Apple Hospitality REIT beat quarterly expectations with $0.28 EPS versus the $0.27 consensus and revenue of $402.55 million. The company also announced a monthly dividend of $0.08 per share, implying a 6.2% annualized yield.
• APLE shares opened at $15.59, below the $16.50 analyst consensus price target. The stock carries a consensus “Hold” rating, although some analysts recently upgraded it to “Buy.”

Public Employees Retirement System of Ohio purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 250,768 shares of the real estate investment trust's stock, valued at approximately $4,215,000. Public Employees Retirement System of Ohio owned 0.11% of Apple Hospitality REIT at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 1,814 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 2,640 shares during the period. Danske Bank A S purchased a new position in Apple Hospitality REIT during the third quarter worth about $36,000. Compass Financial Management LLC purchased a new position in Apple Hospitality REIT during the second quarter worth about $56,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in Apple Hospitality REIT in the fourth quarter valued at about $43,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Down 1.0%

APLE opened at $15.59 on Friday. The business's fifty day moving average is $16.43 and its two-hundred day moving average is $14.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 3.01 and a beta of 0.88. Apple Hospitality REIT, Inc. has a one year low of $10.85 and a one year high of $17.28.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The business had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.64 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 6.2%. Apple Hospitality REIT's payout ratio is presently 129.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings upgraded Apple Hospitality REIT from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Barclays restated an "equal weight" rating and issued a $17.00 price target (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. Compass Point raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their target price for the company from $17.50 to $18.50 in a report on Friday, August 7th. Bank of America upped their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Apple Hospitality REIT in a report on Friday, August 21st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of "Hold" and a consensus price target of $16.50.

About Apple Hospitality REIT

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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