Woodline Partners LP Invests $5.90 Million in Apple Hospitality REIT, Inc. (NYSE:APLE)

Woodline Partners LP purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 384,207 shares of the real estate investment trust's stock, valued at approximately $5,898,000. Woodline Partners LP owned 0.16% of Apple Hospitality REIT at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of APLE. Aster Capital Management DIFC Ltd purchased a new position in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $31,000. Quarry LP grew its position in Apple Hospitality REIT by 128.1% in the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,751 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Apple Hospitality REIT during the 4th quarter worth $51,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Apple Hospitality REIT in the 4th quarter worth about $92,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Apple Hospitality REIT by 20.1% in the 4th quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust's stock worth $104,000 after buying an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company's stock.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $11.43 per share, with a total value of $114,300.00. Following the transaction, the chairman now owns 700,344 shares in the company, valued at $8,004,931.92. This represents a 1.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 12,000 shares of company stock worth $137,120 over the last three months. Company insiders own 7.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company cut their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.80.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE traded down $0.04 during midday trading on Thursday, reaching $11.75. 914,349 shares of the company traded hands, compared to its average volume of 2,265,459. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50. The stock has a 50-day moving average price of $11.91 and a 200 day moving average price of $14.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 13.82 and a beta of 1.07.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The firm had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. Sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a may 25 dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.08 dividend. This represents a yield of 8.3%. The ex-dividend date of this dividend is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is 121.52%.

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.