Stevens Capital Management LP Buys New Stake in Apple Hospitality REIT, Inc. (APLE)
Stevens Capital Management LP bought a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 59,150 shares of the real estate investment trust’s stock, valued at approximately $1,119,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group acquired a new position in shares of Apple Hospitality REIT during the second quarter worth $102,000. Public Employees Retirement Association of Colorado lifted its position in shares of Apple Hospitality REIT by 26.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,393 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Apple Hospitality REIT by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 494 shares in the last quarter. IMS Capital Management acquired a new stake in Apple Hospitality REIT in the second quarter valued at $140,000. Finally, Ffcm LLC raised its holdings in Apple Hospitality REIT by 353.1% in the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 6,526 shares in the last quarter. 49.78% of the stock is currently owned by institutional investors and hedge funds.
In other Apple Hospitality REIT news, Director Redd Hugh bought 2,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $17.96 per share, for a total transaction of $35,920.00. Following the completion of the purchase, the director now directly owns 59,495 shares in the company, valued at $1,068,530.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glade M. Knight bought 5,000 shares of the stock in a transaction on Friday, November 10th. The shares were acquired at an average price of $19.18 per share, with a total value of $95,900.00. Following the purchase, the insider now owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 12,000 shares of company stock valued at $220,970. 6.30% of the stock is owned by insiders.
APLE has been the topic of several recent analyst reports. BidaskClub cut shares of Apple Hospitality REIT from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Robert W. Baird set a $20.00 price target on shares of Apple Hospitality REIT and gave the company a “buy” rating in a report on Sunday, October 29th. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Canaccord Genuity reaffirmed a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a report on Friday, August 11th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $19.67.
Shares of Apple Hospitality REIT, Inc. (APLE) opened at $19.24 on Tuesday. The stock has a market cap of $4,267.15, a price-to-earnings ratio of 10.93, a P/E/G ratio of 2.21 and a beta of 0.60. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.12. Apple Hospitality REIT, Inc. has a twelve month low of $17.49 and a twelve month high of $20.68.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The firm had revenue of $324.90 million during the quarter, compared to analyst estimates of $324.66 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. equities analysts predict that Apple Hospitality REIT, Inc. will post 1.73 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.20 annualized dividend and a yield of 6.24%. Apple Hospitality REIT’s payout ratio is 118.81%.
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About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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