Centersquare Investment Management LLC Sells 222,840 Shares of Apple Hospitality REIT, Inc. $APLE

Centersquare Investment Management LLC cut its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,024,590 shares of the real estate investment trust’s stock after selling 222,840 shares during the quarter. Centersquare Investment Management LLC owned about 0.43% of Apple Hospitality REIT worth $12,305,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strs Ohio grew its holdings in Apple Hospitality REIT by 18.1% during the third quarter. Strs Ohio now owns 979,334 shares of the real estate investment trust’s stock valued at $11,762,000 after purchasing an additional 150,000 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Apple Hospitality REIT by 285.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock worth $15,764,000 after buying an additional 1,000,214 shares during the period. Caxton Associates LLP acquired a new position in Apple Hospitality REIT in the 2nd quarter valued at $1,794,000. Peregrine Capital Management LLC bought a new position in Apple Hospitality REIT in the 3rd quarter worth $5,129,000. Finally, Y Intercept Hong Kong Ltd lifted its position in Apple Hospitality REIT by 34.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 92,006 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 23,761 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $12.26 on Thursday. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $14.96. The company has a market capitalization of $2.89 billion, a P/E ratio of 16.56 and a beta of 0.84. The stock has a 50 day moving average of $12.16 and a two-hundred day moving average of $12.07. The company has a current ratio of 0.40, a quick ratio of 0.06 and a debt-to-equity ratio of 0.52.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. The firm had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million. As a group, equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a dividend yield of 7.8%. The ex-dividend date is Friday, February 27th. Apple Hospitality REIT’s payout ratio is 131.51%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APLE. Barclays initiated coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price target on the stock. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.92.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average price of $11.91 per share, with a total value of $59,550.00. Following the completion of the transaction, the chairman directly owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.10% of the stock is currently owned by insiders.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.