Asset Management One Co. Ltd. increased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) by 24.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481,341 shares of the real estate investment trust’s stock after buying an additional 95,606 shares during the period. Asset Management One Co. Ltd.’s holdings in Apple Hospitality REIT were worth $6,214,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of APLE. Aster Capital Management DIFC Ltd bought a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in Apple Hospitality REIT by 569.5% during the first quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 2,386 shares during the period. Quarry LP grew its holdings in Apple Hospitality REIT by 128.1% during the fourth quarter. Quarry LP now owns 3,118 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,751 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $51,000. Finally, GF Fund Management CO. LTD. acquired a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $64,000. 89.66% of the stock is owned by institutional investors.
Insider Activity
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 10,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the acquisition, the chairman now owns 700,344 shares of the company’s stock, valued at $8,004,931.92. This trade represents a 1.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 12,000 shares of company stock worth $137,120 over the last quarter. 7.10% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on Apple Hospitality REIT
Apple Hospitality REIT Stock Down 0.0%
Shares of NYSE APLE opened at $11.83 on Friday. The stock has a market cap of $2.81 billion, a P/E ratio of 14.97 and a beta of 1.04. The firm has a 50 day moving average price of $11.73 and a 200 day moving average price of $13.40. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.84 and a current ratio of 0.84. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50.
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $327.70 million during the quarter, compared to analysts’ expectations of $332.86 million. Apple Hospitality REIT had a net margin of 13.38% and a return on equity of 5.84%. Analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.
Apple Hospitality REIT Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 8.12%. The ex-dividend date of this dividend is Monday, June 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 121.52%.
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 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.
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