Peregrine Capital Management LLC Buys New Holdings in Apple Hospitality REIT, Inc. $APLE

Peregrine Capital Management LLC purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) in the third quarter, HoldingsChannel.com reports. The firm purchased 427,031 shares of the real estate investment trust’s stock, valued at approximately $5,129,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Apple Hospitality REIT by 14.9% in the 2nd quarter. Signaturefd LLC now owns 7,058 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 913 shares in the last quarter. MML Investors Services LLC increased its position in Apple Hospitality REIT by 1.4% during the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after purchasing an additional 1,100 shares in the last quarter. Teacher Retirement System of Texas increased its position in Apple Hospitality REIT by 3.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 34,474 shares of the real estate investment trust’s stock worth $402,000 after purchasing an additional 1,143 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Apple Hospitality REIT by 22.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 1,202 shares during the period. Finally, Cetera Investment Advisers lifted its position in Apple Hospitality REIT by 6.6% during the second quarter. Cetera Investment Advisers now owns 22,288 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 1,387 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were acquired at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the purchase, the chairman owned 710,344 shares in the company, valued at $8,460,197.04. This trade represents a 0.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 8,000 shares of company stock valued at $95,180. Corporate insiders own 7.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on APLE shares. Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Robert W. Baird reduced their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a research report on Tuesday, November 4th. Finally, Cantor Fitzgerald began coverage on Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.92.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $12.49 on Friday. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.01. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.95 billion, a P/E ratio of 17.10 and a beta of 0.85. The stock has a 50 day moving average of $11.86 and a 200-day moving average of $12.05.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $373.88 million during the quarter, compared to analyst estimates of $371.94 million. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. On average, analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 7.7%. Apple Hospitality REIT’s payout ratio is presently 131.51%.

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.