Rush Island Management LP Acquires Shares of 1,489,435 Apple Hospitality REIT, Inc. $APLE

Key Points

• Rush Island Management acquired 1.49 million Apple Hospitality REIT shares worth approximately $17.1 million, giving it a 0.63% stake. Institutional investors and hedge funds collectively own 89.66% of the company.
• Apple Hospitality REIT reported quarterly EPS of $0.12, beating estimates by $0.01, while revenue reached $337.74 million versus the $327.81 million consensus estimate.
• The company declared a monthly dividend of $0.08 per share, implying a 5.7% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $16.00, below the reported $16.84 share price.

Rush Island Management LP bought a new position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,489,435 shares of the real estate investment trust's stock, valued at approximately $17,143,000. Apple Hospitality REIT makes up approximately 1.2% of Rush Island Management LP's investment portfolio, making the stock its 18th biggest position. Rush Island Management LP owned about 0.63% of Apple Hospitality REIT as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in APLE. Quantinno Capital Management LP increased its holdings in shares of Apple Hospitality REIT by 75.9% in the first quarter. Quantinno Capital Management LP now owns 70,592 shares of the real estate investment trust's stock valued at $813,000 after purchasing an additional 30,455 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Apple Hospitality REIT during the first quarter worth $3,126,000. Arrowstreet Capital Limited Partnership boosted its stake in Apple Hospitality REIT by 36.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 329,551 shares of the real estate investment trust's stock worth $3,793,000 after buying an additional 88,026 shares during the last quarter. Sei Investments Co. grew its holdings in Apple Hospitality REIT by 21.5% in the 1st quarter. Sei Investments Co. now owns 319,178 shares of the real estate investment trust's stock valued at $3,674,000 after buying an additional 56,493 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Apple Hospitality REIT by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust's stock worth $622,000 after acquiring an additional 1,568 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the purchase, the chairman directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.90% of the stock is currently owned by insiders.

Apple Hospitality REIT Trading Down 0.3%

Shares of APLE stock opened at $16.84 on Wednesday. Apple Hospitality REIT, Inc. has a 1-year low of $10.85 and a 1-year high of $17.13. The firm has a market cap of $3.97 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 3.31 and a beta of 0.87. The company has a 50-day moving average of $16.11 and a two-hundred day moving average of $13.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released 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. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The business had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. On average, analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 5.7%. Apple Hospitality REIT's payout ratio is presently 131.51%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APLE shares. Weiss Ratings raised shares of Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Wells Fargo & Company boosted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Zacks Research upgraded shares of Apple Hospitality REIT from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets upped their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.00.

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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