VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.79 Million in Apple Hospitality REIT, Inc. $APLE

Key Points

• Virginia Retirement Systems ET Al has invested approximately $4.79 million in Apple Hospitality REIT, acquiring 410,000 shares, which accounts for about 0.17% of the company.
• Recent price targets from analysts show a consensus rating of "Moderate Buy" for the stock, with a current average price target of $14.50.
• Apple Hospitality REIT has declared a monthly dividend of $0.08, which represents an annualized yield of 8.2%, with a payout ratio of 128.00%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 410,000 shares of the real estate investment trust's stock, valued at approximately $4,785,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.17% of Apple Hospitality REIT as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Deroy & Devereaux Private Investment Counsel Inc. increased its position in Apple Hospitality REIT by 56.7% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 274,167 shares of the real estate investment trust's stock valued at $3,200,000 after buying an additional 99,175 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in Apple Hospitality REIT during the 2nd quarter valued at approximately $206,000. Cascade Investment Advisors Inc. increased its position in Apple Hospitality REIT by 11.0% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 57,688 shares of the real estate investment trust's stock valued at $673,000 after buying an additional 5,700 shares in the last quarter. CWM LLC increased its position in Apple Hospitality REIT by 377.9% during the 2nd quarter. CWM LLC now owns 19,865 shares of the real estate investment trust's stock valued at $232,000 after buying an additional 15,708 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in Apple Hospitality REIT by 165.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,511 shares of the real estate investment trust's stock valued at $333,000 after buying an additional 17,765 shares in the last quarter. Institutional investors own 89.66% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Apple Hospitality REIT in a research report on Wednesday, October 8th. Wells Fargo & Company raised Apple Hospitality REIT to a "hold" rating in a report on Friday, October 3rd. Cantor Fitzgerald began coverage on Apple Hospitality REIT in a report on Wednesday, October 1st. They issued an "overweight" rating and a $14.00 target price for the company. Finally, Robert W. Baird reduced their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the purchase, the chairman directly owned 705,344 shares in the company, valued at approximately $8,668,677.76. This represents a 0.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.10% of the stock is currently owned by company insiders.

Apple Hospitality REIT Stock Up 1.0%

Apple Hospitality REIT stock opened at $11.67 on Tuesday. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 15.55 and a beta of 1.02. The stock has a fifty day simple moving average of $12.30 and a two-hundred day simple moving average of $11.99. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting 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%. Equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be paid a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Friday, October 31st. Apple Hospitality REIT's dividend payout ratio (DPR) 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.

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