Tudor Investment Corp ET AL Cuts Stake in Apple Hospitality REIT, Inc. $APLE

Key Points

• Tudor Investment Corp ET AL cut its holdings in Apple Hospitality REIT (NYSE:APLE) by 95.0% in Q3, selling 319,079 shares and leaving 16,625 shares worth about $200,000 per its latest 13F filing.
• Apple Hospitality announced a monthly dividend of $0.08 per share (ex-dividend March 31, payable April 15), implying a 8.3% yield but with a high payout ratio of 129.73%.
• The stock trades near $11.54 with a market cap of $2.72 billion, and Wall Street's consensus is a Hold rating with an average target price of $12.79.

Tudor Investment Corp ET AL cut its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 95.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,625 shares of the real estate investment trust's stock after selling 319,079 shares during the period. Tudor Investment Corp ET AL's holdings in Apple Hospitality REIT were worth $200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock valued at $2,205,000 after buying an additional 4,712 shares during the last quarter. AQR Capital Management LLC grew its stake in Apple Hospitality REIT by 114.3% during the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock valued at $1,732,000 after acquiring an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Apple Hospitality REIT by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock valued at $1,776,000 after acquiring an additional 6,788 shares during the last quarter. NewEdge Advisors LLC lifted its stake in 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 purchasing an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock worth $280,000 after purchasing an additional 21,495 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $11.54 on Friday. The firm has a market capitalization of $2.72 billion, a PE ratio of 15.59 and a beta of 0.82. The stock's fifty day moving average is $12.02 and its 200 day moving average is $11.94. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.44 and a fifty-two week high of $13.27. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The firm had revenue of $326.44 million for the quarter, compared to analysts' expectations of $322.60 million. On average, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. Apple Hospitality REIT's dividend payout ratio is currently 129.73%.

Wall Street Analysts Forecast Growth

APLE has been the topic of a number of research reports. Barclays initiated coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They issued an "overweight" rating and a $14.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, March 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They set a "neutral" rating and a $13.00 price objective for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.79.

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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