Asset Management One Co. Ltd. Buys 95,606 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Asset Management One Co. Ltd. raised its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 24.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 481,341 shares of the real estate investment trust’s stock after purchasing an additional 95,606 shares during the quarter. Asset Management One Co. Ltd. owned 0.20% of Apple Hospitality REIT worth $6,214,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Summit Investment Advisors Inc. increased its holdings in shares of Apple Hospitality REIT by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 755 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of Apple Hospitality REIT by 6.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 18,970 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 1,100 shares in the last quarter. PFG Investments LLC increased its stake in Apple Hospitality REIT by 9.2% in the first quarter. PFG Investments LLC now owns 13,216 shares of the real estate investment trust’s stock valued at $171,000 after acquiring an additional 1,115 shares during the period. Quadrant Capital Group LLC increased its stake in Apple Hospitality REIT by 20.1% in the fourth quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 1,128 shares during the period. Finally, Inspire Advisors LLC increased its stake in Apple Hospitality REIT by 8.5% in the fourth quarter. Inspire Advisors LLC now owns 14,502 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 1,137 shares during the period. Institutional investors own 89.66% of the company’s stock.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 10,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the purchase, the chairman now owns 700,344 shares in the company, valued at approximately $8,004,931.92. The trade was a 1.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 12,000 shares of company stock worth $137,120 over the last ninety days. Corporate insiders own 7.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $14.00 to $12.00 in a research note on Monday, June 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.75.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $11.83 on Friday. The firm has a market cap of $2.81 billion, a PE ratio of 14.97 and a beta of 1.04. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $13.40.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $327.70 million for the quarter, compared to analyst estimates of $332.86 million. Apple Hospitality REIT had a net margin of 13.38% and a return on equity of 5.84%. On average, equities analysts anticipate 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 Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.96 dividend on an annualized basis and a yield of 8.12%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 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.