Clearbridge Investments LLC Purchases 54,305 Shares of Apple Hospitality REIT, Inc. $APLE

Clearbridge Investments LLC boosted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 659,804 shares of the real estate investment trust’s stock after acquiring an additional 54,305 shares during the quarter. Clearbridge Investments LLC’s holdings in Apple Hospitality REIT were worth $7,819,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in APLE. NewEdge Advisors LLC lifted its position in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 2,640 shares during the last quarter. Danske Bank A S bought a new stake in shares of Apple Hospitality REIT during the 3rd quarter worth $36,000. Godfrey Financial Associates Inc. bought a new stake in shares of Apple Hospitality REIT during the 4th quarter worth $43,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Apple Hospitality REIT by 97.5% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,872 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the purchase, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. assumed coverage on shares of Apple Hospitality REIT in a report on Monday, June 1st. They set a “neutral” rating and a $15.00 price target on the stock. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. LADENBURG THALM/SH SH assumed coverage on shares of Apple Hospitality REIT in a report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price target on the stock. Finally, Cantor Fitzgerald lifted their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.21.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $15.88 on Thursday. The stock has a market cap of $3.75 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 7.78 and a beta of 0.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $13.65 and its 200-day moving average is $12.62. Apple Hospitality REIT, Inc. has a 1-year low of $10.85 and a 1-year high of $16.04.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 6.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

About Apple Hospitality REIT

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.