Oliver Luxxe Assets LLC Purchases New Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Oliver Luxxe Assets LLC acquired a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 67,306 shares of the real estate investment trust’s stock, valued at approximately $1,102,000.

A number of other hedge funds also recently made changes to their positions in APLE. FMR LLC raised its stake in shares of Apple Hospitality REIT by 15.6% during the third quarter. FMR LLC now owns 1,702,789 shares of the real estate investment trust’s stock valued at $26,121,000 after purchasing an additional 230,117 shares during the period. Invesco Ltd. grew its stake in shares of Apple Hospitality REIT by 33.7% in the 3rd quarter. Invesco Ltd. now owns 980,762 shares of the real estate investment trust’s stock valued at $15,045,000 after buying an additional 247,238 shares in the last quarter. Natixis Advisors L.P. bought a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at approximately $301,000. Profund Advisors LLC bought a new stake in Apple Hospitality REIT during the third quarter worth approximately $185,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Apple Hospitality REIT in the third quarter valued at approximately $163,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average cost of $14.78 per share, with a total value of $73,900.00. Following the acquisition, the chairman now directly owns 631,990 shares of the company’s stock, valued at $9,340,812.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

APLE has been the subject of a number of research reports. Wedbush began coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price for the company. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.83.

Apple Hospitality REIT Stock Down 1.5 %

Shares of APLE stock traded down $0.22 during trading hours on Monday, reaching $14.32. The company had a trading volume of 560,912 shares, compared to its average volume of 2,077,274. Apple Hospitality REIT, Inc. has a 12 month low of $13.96 and a 12 month high of $17.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79. The business has a fifty day simple moving average of $14.63 and a 200-day simple moving average of $15.74. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 16.91 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The company had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. During the same quarter last year, the firm posted $0.34 earnings per share. On average, research analysts expect that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.70%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 111.63%.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.