Wolverine Asset Management LLC Raises Holdings in Apple Hospitality REIT, Inc. $APLE

Wolverine Asset Management LLC boosted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 50.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319,553 shares of the real estate investment trust’s stock after acquiring an additional 106,946 shares during the quarter. Wolverine Asset Management LLC’s holdings in Apple Hospitality REIT were worth $3,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Centerbridge Partners L.P. increased its position in Apple Hospitality REIT by 18.4% during the 3rd quarter. Centerbridge Partners L.P. now owns 2,247,785 shares of the real estate investment trust’s stock valued at $26,996,000 after buying an additional 350,000 shares in the last quarter. Strs Ohio increased its position in Apple Hospitality REIT by 18.1% during the 3rd quarter. Strs Ohio now owns 979,334 shares of the real estate investment trust’s stock valued at $11,762,000 after buying an additional 150,000 shares in the last quarter. Peregrine Capital Management LLC bought a new position in Apple Hospitality REIT during the 3rd quarter valued at approximately $5,129,000. Waterfall Asset Management LLC increased its position in Apple Hospitality REIT by 82.5% during the 3rd quarter. Waterfall Asset Management LLC now owns 730,000 shares of the real estate investment trust’s stock valued at $8,767,000 after buying an additional 330,000 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in Apple Hospitality REIT by 10.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 972,074 shares of the real estate investment trust’s stock valued at $11,675,000 after buying an additional 94,630 shares in the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of analyst reports. Barclays reduced their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, April 7th. LADENBURG THALM/SH SH initiated coverage on Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price objective on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.64.

Apple Hospitality REIT Stock Down 1.7%

Apple Hospitality REIT stock opened at $13.17 on Tuesday. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 8.21 and a beta of 0.88. The stock has a fifty day simple moving average of $12.26 and a two-hundred day simple moving average of $12.04. Apple Hospitality REIT, Inc. has a 12 month low of $10.85 and a 12 month high of $13.66. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS 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 analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. Equities analysts predict that Apple Hospitality REIT, Inc. will post 1.51 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 129.73%.

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.