Dimensional Fund Advisors LP increased its stake in Apple Hospitality REIT Inc (NYSE:APLE) by 6.0% in the first quarter, HoldingsChannel reports. The firm owned 3,196,925 shares of the real estate investment trust’s stock after purchasing an additional 179,835 shares during the period. Dimensional Fund Advisors LP’s holdings in Apple Hospitality REIT were worth $56,170,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in APLE. Great West Life Assurance Co. Can lifted its stake in Apple Hospitality REIT by 4.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 137,528 shares of the real estate investment trust’s stock valued at $2,415,000 after acquiring an additional 5,458 shares during the period. Flinton Capital Management LLC lifted its stake in Apple Hospitality REIT by 610.6% during the 1st quarter. Flinton Capital Management LLC now owns 182,410 shares of the real estate investment trust’s stock valued at $3,205,000 after acquiring an additional 156,740 shares during the period. Franklin Resources Inc. acquired a new stake in Apple Hospitality REIT during the 1st quarter valued at approximately $176,000. Lido Advisors LLC lifted its stake in Apple Hospitality REIT by 18.0% during the 1st quarter. Lido Advisors LLC now owns 22,475 shares of the real estate investment trust’s stock valued at $394,000 after acquiring an additional 3,425 shares during the period. Finally, Cigna Investments Inc. New increased its holdings in shares of Apple Hospitality REIT by 124.9% during the 1st quarter. Cigna Investments Inc. New now owns 39,263 shares of the real estate investment trust’s stock valued at $690,000 after purchasing an additional 21,804 shares in the last quarter. Institutional investors own 55.73% of the company’s stock.
Several equities analysts have recently weighed in on the stock. TheStreet raised shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, May 18th. Zacks Investment Research lowered shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. ValuEngine lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, June 18th. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “hold” rating in a report on Tuesday, May 8th. Finally, Barclays reaffirmed an “equal weight” rating and set a $20.00 target price (down from $21.00) on shares of Apple Hospitality REIT in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $20.00.
Shares of Apple Hospitality REIT opened at $18.45 on Friday, according to Marketbeat.com. The firm has a market capitalization of $4.24 billion, a P/E ratio of 10.63, a P/E/G ratio of 2.11 and a beta of 0.67. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.14. Apple Hospitality REIT Inc has a one year low of $16.72 and a one year high of $20.19.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.21). The company had revenue of $298.40 million during the quarter, compared to analysts’ expectations of $299.89 million. Apple Hospitality REIT had a return on equity of 5.38% and a net margin of 15.30%. Apple Hospitality REIT’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. equities research analysts expect that Apple Hospitality REIT Inc will post 1.75 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, July 2nd will be issued a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 6.50%. The ex-dividend date is Friday, June 29th. Apple Hospitality REIT’s payout ratio is presently 68.97%.
In related news, insider Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was bought at an average price of $18.52 per share, with a total value of $92,600.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 6.30% of the stock is currently owned by insiders.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.
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