Apple Hospitality REIT (APLE) Shares Bought by Riverhead Capital Management LLC

Riverhead Capital Management LLC grew its position in Apple Hospitality REIT (NYSE:APLE) by 607.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,100 shares of the real estate investment trust’s stock after acquiring an additional 115,150 shares during the quarter. Riverhead Capital Management LLC owned about 0.06% of Apple Hospitality REIT worth $2,356,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in shares of Apple Hospitality REIT by 132.3% in the fourth quarter. US Bancorp DE now owns 5,479 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 3,120 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Apple Hospitality REIT by 20.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,566 shares of the real estate investment trust’s stock valued at $364,000 after acquiring an additional 3,147 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Apple Hospitality REIT by 10.9% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,366 shares of the real estate investment trust’s stock valued at $586,000 after acquiring an additional 3,286 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Apple Hospitality REIT by 14.6% in the first quarter. Daiwa Securities Group Inc. now owns 26,700 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 3,400 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Apple Hospitality REIT by 67.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,071 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 4,468 shares during the period. 56.86% of the stock is owned by institutional investors and hedge funds.

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Several equities research analysts recently weighed in on APLE shares. Barclays started coverage on Apple Hospitality REIT in a report on Wednesday, January 31st. They set an “equal weight” rating and a $21.00 price target for the company. TheStreet downgraded Apple Hospitality REIT from a “b” rating to a “c” rating in a report on Thursday, February 8th. B. Riley set a $20.00 price target on Apple Hospitality REIT and gave the stock a “hold” rating in a report on Friday, February 23rd. Robert W. Baird set a $20.00 price target on Apple Hospitality REIT and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Zacks Investment Research downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Apple Hospitality REIT currently has an average rating of “Hold” and an average target price of $20.00.

Shares of Apple Hospitality REIT opened at $18.39 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.06 and a quick ratio of 0.06. Apple Hospitality REIT has a 1-year low of $16.72 and a 1-year high of $20.19. The firm has a market cap of $4.21 billion, a P/E ratio of 10.57, a P/E/G ratio of 2.10 and a beta of 0.64.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 7th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.21). Apple Hospitality REIT had a return on equity of 5.38% and a net margin of 15.30%. The company had revenue of $298.40 million for the quarter, compared to analyst estimates of $299.89 million. During the same period in the prior year, the business earned $0.39 earnings per share. Apple Hospitality REIT’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts predict that Apple Hospitality REIT will post 1.75 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which was paid on Tuesday, May 15th. Investors of record on Wednesday, May 2nd were issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.53%. The ex-dividend date was Tuesday, May 1st. Apple Hospitality REIT’s dividend payout ratio is presently 68.97%.

In other Apple Hospitality REIT news, insider Glade M. Knight acquired 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was purchased at an average price of $17.16 per share, for a total transaction of $171,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Glade M. Knight acquired 5,800 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of $17.10 per share, with a total value of $99,180.00. Following the transaction, the chairman now directly owns 10,052,157 shares of the company’s stock, valued at approximately $171,891,884.70. The disclosure for this purchase can be found here. Insiders acquired 38,504 shares of company stock valued at $665,862 in the last quarter. 6.30% of the stock is currently owned by company insiders.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.