QRG Capital Management Inc. Acquires 35,950 Shares of Apple Hospitality REIT, Inc. $APLE

QRG Capital Management Inc. boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 31.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,996 shares of the real estate investment trust’s stock after purchasing an additional 35,950 shares during the quarter. QRG Capital Management Inc. owned approximately 0.06% of Apple Hospitality REIT worth $1,726,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Apple Hospitality REIT by 295.9% in the first 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in 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 acquiring an additional 2,640 shares during the last quarter. Danske Bank A S bought a new stake in Apple Hospitality REIT in the 3rd quarter valued at $36,000. Godfrey Financial Associates Inc. purchased a new stake in Apple Hospitality REIT in the 4th quarter worth $43,000. Finally, Inspire Investing LLC lifted its stake in Apple Hospitality REIT by 2,965.1% in 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APLE has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH raised their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Wells Fargo & Company increased 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. Barclays raised their price target on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, June 1st. BMO Capital Markets lifted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. assumed coverage on Apple Hospitality REIT in a report on Monday, June 1st. They set a “neutral” rating and a $15.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.94.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 6.90% of the company’s stock.

Apple Hospitality REIT Trading Down 1.5%

Shares of NYSE APLE opened at $16.34 on Wednesday. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.85 and a fifty-two week high of $17.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 8.10 and a beta of 0.87. The business’s 50 day moving average price is $15.24 and its 200-day moving average price is $13.24.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. On average, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Apple Hospitality REIT’s payout ratio is currently 131.51%.

Apple Hospitality REIT 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.