Apple Hospitality REIT, Inc. $APLE Shares Bought by Centerbridge Partners L.P.

Centerbridge Partners L.P. boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 88.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,229,785 shares of the real estate investment trust’s stock after purchasing an additional 1,982,000 shares during the period. Apple Hospitality REIT comprises approximately 84.8% of Centerbridge Partners L.P.’s investment portfolio, making the stock its biggest holding. Centerbridge Partners L.P.’s holdings in Apple Hospitality REIT were worth $50,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Guggenheim Capital LLC lifted its position in Apple Hospitality REIT by 56.2% during the fourth quarter. Guggenheim Capital LLC now owns 41,476 shares of the real estate investment trust’s stock valued at $491,000 after purchasing an additional 14,920 shares during the period. Masterton Capital Management LP lifted its position in Apple Hospitality REIT by 23.1% during the fourth quarter. Masterton Capital Management LP now owns 531,000 shares of the real estate investment trust’s stock valued at $6,292,000 after purchasing an additional 99,800 shares during the period. AQR Capital Management LLC lifted its position in Apple Hospitality REIT by 1.3% during the fourth quarter. AQR Capital Management LLC now owns 937,449 shares of the real estate investment trust’s stock valued at $11,109,000 after purchasing an additional 12,384 shares during the period. Kovack Advisors Inc. acquired a new position in Apple Hospitality REIT during the fourth quarter valued at $194,000. Finally, Osaic Holdings Inc. lifted its position in Apple Hospitality REIT by 5.4% during the fourth quarter. Osaic Holdings Inc. now owns 26,989 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 1,392 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.90% of the company’s stock.

Apple Hospitality REIT Trading Down 0.8%

Shares of Apple Hospitality REIT stock opened at $16.25 on Thursday. The firm has a 50-day simple moving average of $14.11 and a two-hundred day simple moving average of $12.77. The company has a market cap of $3.83 billion, a P/E ratio of 22.25, a price-to-earnings-growth ratio of 8.00 and a beta of 0.89. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.85 and a fifty-two week high of $16.57. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.08 dividend. The ex-dividend date was Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Analysts Set New Price Targets

APLE has been the subject of a number of research reports. Weiss Ratings upgraded shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. BMO Capital Markets boosted their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, June 12th. JPMorgan Chase & Co. initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Finally, LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.44.

Apple Hospitality REIT Company Profile

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.