Strs Ohio Acquires Shares of 340,400 Apple Hospitality REIT, Inc. $APLE

Key Points

• Strs Ohio acquired 340,400 shares of Apple Hospitality REIT, valued at approximately $4.4 million, marking a 0.14% ownership stake in the company.
• Apple Hospitality REIT recently announced a $0.08 dividend, which represents a remarkable 735.0% dividend yield and will be paid to shareholders on September 15th.
• The company's stock has a current market capitalization of $2.98 billion and analysts have rated it with an average target price of $15.00, reflecting a Moderate Buy rating.

Strs Ohio acquired a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 340,400 shares of the real estate investment trust's stock, valued at approximately $4,395,000. Strs Ohio owned 0.14% of Apple Hospitality REIT as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APLE. Nuveen LLC bought a new stake in Apple Hospitality REIT in the first quarter valued at approximately $40,841,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Apple Hospitality REIT during the first quarter worth approximately $9,055,000. Victory Capital Management Inc. increased its stake in shares of Apple Hospitality REIT by 9.4% during the first quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust's stock worth $95,552,000 after purchasing an additional 633,688 shares during the period. Allianz Asset Management GmbH increased its stake in shares of Apple Hospitality REIT by 59.3% during the first quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust's stock worth $18,753,000 after purchasing an additional 540,957 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Apple Hospitality REIT during the first quarter worth approximately $6,254,000. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Trading Down 0.8%

Shares of NYSE:APLE opened at $12.58 on Monday. The company has a market capitalization of $2.98 billion, a P/E ratio of 16.77 and a beta of 1.05. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The business's 50 day simple moving average is $12.41 and its 200 day simple moving average is $12.28.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. The firm had revenue of $384.37 million for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.08 dividend. This represents a dividend yield of 735.0%. The ex-dividend date of this dividend is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 128.00%.

Insider Buying and Selling 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 Tuesday, August 19th. The shares were purchased at an average price of $12.29 per share, with a total value of $61,450.00. Following the acquisition, the chairman owned 705,344 shares in the company, valued at $8,668,677.76. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 7.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Wells Fargo & Company increased their target price on Apple Hospitality REIT from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Apple Hospitality REIT has an average rating of "Moderate Buy" and an average price target of $15.00.

Apple Hospitality REIT 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.

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