Apple Hospitality REIT, Inc. $APLE Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.4% in the first quarter, Holdings Channel.com reports. The fund owned 2,208,912 shares of the real estate investment trust’s stock after selling 53,790 shares during the quarter. Systematic Financial Management LP’s holdings in Apple Hospitality REIT were worth $25,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 2,640 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Apple Hospitality REIT during the 3rd quarter worth about $36,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Apple Hospitality REIT during the 4th quarter worth about $43,000. Finally, Inspire Investing LLC increased its position in Apple Hospitality REIT by 2,965.1% during the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 3,736 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on APLE. BMO Capital Markets raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a report on Friday, June 12th. Barclays reiterated an “equal weight” rating and set a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday. Weiss Ratings raised shares of Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Cantor Fitzgerald raised their target price on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.00.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $16.62 on Friday. Apple Hospitality REIT, Inc. has a 1-year low of $10.85 and a 1-year high of $17.13. The business has a 50-day moving average of $15.94 and a 200-day moving average of $13.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.32 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.90% of the stock is owned by company insiders.

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.