Hudson Bay Capital Management LP Reduces Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Hudson Bay Capital Management LP cut its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 63.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,005 shares of the real estate investment trust's stock after selling 251,702 shares during the quarter. Hudson Bay Capital Management LP owned 0.06% of Apple Hospitality REIT worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of APLE. Deutsche Bank AG lifted its holdings in Apple Hospitality REIT by 20.9% in the 4th quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock worth $6,019,000 after buying an additional 67,896 shares during the period. Cetera Investment Advisers lifted its holdings in Apple Hospitality REIT by 21.7% in the 4th quarter. Cetera Investment Advisers now owns 20,862 shares of the real estate investment trust's stock worth $320,000 after buying an additional 3,718 shares during the period. BOKF NA lifted its holdings in Apple Hospitality REIT by 25.0% in the 4th quarter. BOKF NA now owns 22,514 shares of the real estate investment trust's stock worth $328,000 after buying an additional 4,506 shares during the period. Brevan Howard Capital Management LP purchased a new stake in Apple Hospitality REIT in the 4th quarter worth approximately $276,000. Finally, Baird Financial Group Inc. lifted its holdings in Apple Hospitality REIT by 4.5% in the 4th quarter. Baird Financial Group Inc. now owns 131,058 shares of the real estate investment trust's stock worth $2,012,000 after buying an additional 5,608 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APLE. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 10,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $11.43 per share, with a total value of $114,300.00. Following the transaction, the chairman now directly owns 700,344 shares in the company, valued at approximately $8,004,931.92. This represents a 1.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 12,000 shares of company stock valued at $137,120 in the last 90 days. Corporate insiders own 7.10% of the company's stock.

Apple Hospitality REIT Stock Up 1.6%

Shares of NYSE:APLE traded up $0.20 during trading on Friday, hitting $12.21. The stock had a trading volume of 2,240,285 shares, compared to its average volume of 2,258,532. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a market capitalization of $2.90 billion, a PE ratio of 14.36 and a beta of 1.07. The firm's fifty day moving average is $12.20 and its 200 day moving average is $14.27. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

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

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 7.87%. The ex-dividend date was Wednesday, April 30th. Apple Hospitality REIT's dividend payout ratio is currently 121.52%.

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.