VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Apple Hospitality REIT, Inc. $APLE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 410,000 shares of the real estate investment trust’s stock, valued at approximately $4,785,000.

Other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 1,814 shares during the period. Kestra Investment Management LLC bought a new stake in Apple Hospitality REIT during the first quarter valued at about $57,000. Security National Bank bought a new stake in Apple Hospitality REIT during the second quarter valued at about $60,000. Quarry LP grew its holdings in Apple Hospitality REIT by 64.8% during the first quarter. Quarry LP now owns 5,137 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 2,019 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Apple Hospitality REIT by 37.8% during the second quarter. Fifth Third Bancorp now owns 7,009 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,922 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $11.67 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $2.76 billion, a P/E ratio of 15.55 and a beta of 1.02. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $16.50. The business’s 50-day moving average is $12.30 and its 200 day moving average is $11.99.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $384.37 million for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be given a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Friday, October 31st. Apple Hospitality REIT’s payout ratio is currently 128.00%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APLE shares. Robert W. Baird cut their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Cantor Fitzgerald initiated coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price objective on the stock. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.50.

Insider Activity at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the transaction, the chairman owned 705,344 shares of the company’s stock, valued at approximately $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 7.10% of the company’s stock.

Apple Hospitality REIT 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.