Peregrine Capital Management LLC Lowers Stake in Apple Hospitality REIT, Inc. $APLE

Peregrine Capital Management LLC cut its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 370,650 shares of the real estate investment trust’s stock after selling 35,935 shares during the period. Peregrine Capital Management LLC’s holdings in Apple Hospitality REIT were worth $4,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its position in Apple Hospitality REIT by 7.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,883 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 1,022 shares during the period. MML Investors Services LLC increased its position in shares of Apple Hospitality REIT by 1.4% during the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after acquiring an additional 1,100 shares during the period. Captrust Financial Advisors increased its position in shares of Apple Hospitality REIT by 9.3% during the fourth quarter. Captrust Financial Advisors now owns 13,519 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 1,149 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apple Hospitality REIT by 16.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Apple Hospitality REIT by 22.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on APLE shares. Cantor Fitzgerald increased their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. BMO Capital Markets lifted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a “market perform” rating in a research report on Friday, June 12th. Barclays upped their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They set a “neutral” rating and a $15.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.94.

Insider Buying and Selling

In related news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the transaction, the chairman owned 747,191 shares in the company, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.90% of the stock is owned by company insiders.

Apple Hospitality REIT Trading Up 0.8%

Shares of NYSE:APLE opened at $16.62 on Friday. The business’s 50-day moving average is $15.03 and its 200 day moving average is $13.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Apple Hospitality REIT, Inc. has a 1 year low of $10.85 and a 1 year high of $17.06. The firm has a market capitalization of $3.92 billion, a P/E ratio of 22.76, a P/E/G ratio of 8.05 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last issued 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. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. On average, research analysts predict that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.08 dividend. The ex-dividend date is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

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.