Public Sector Pension Investment Board Grows Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Apple Hospitality REIT by 48.8%, owning 826,924 shares valued at approximately $10.68 million.
• Apple Hospitality REIT reported $0.47 EPS for the quarter, meeting analysts' expectations, with a revenue of $384.37 million.
• A recent dividend announcement revealed a payout of $0.08 per share, reflecting a yield of 770.0%, and the company has a payout ratio of 128.00%.

Public Sector Pension Investment Board boosted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 48.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 826,924 shares of the real estate investment trust's stock after purchasing an additional 271,023 shares during the quarter. Public Sector Pension Investment Board owned about 0.35% of Apple Hospitality REIT worth $10,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in APLE. Nuveen LLC acquired a new stake in Apple Hospitality REIT in the first quarter worth about $40,841,000. Invesco Ltd. boosted its holdings in Apple Hospitality REIT by 4.2% in the first quarter. Invesco Ltd. now owns 1,267,201 shares of the real estate investment trust's stock worth $16,360,000 after acquiring an additional 50,991 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Apple Hospitality REIT by 6.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,203 shares of the real estate investment trust's stock worth $2,042,000 after acquiring an additional 10,100 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Apple Hospitality REIT in the first quarter worth about $137,000. Finally, Centersquare Investment Management LLC purchased a new position in shares of Apple Hospitality REIT in the first quarter worth about $227,000. Institutional investors own 89.66% of the company's stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.75.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE traded down $0.15 during trading on Friday, hitting $12.17. The stock had a trading volume of 2,014,329 shares, compared to its average volume of 3,298,667. The stock has a 50-day simple moving average of $12.00 and a two-hundred day simple moving average of $12.63. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 16.23 and a beta of 1.08. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced 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 firm had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a jul 25 dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a yield of 770.0%. Apple Hospitality REIT's payout ratio is 128.00%.

Apple Hospitality REIT Company 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.