LSV Asset Management Buys 53,300 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

LSV Asset Management raised its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,572,043 shares of the real estate investment trust’s stock after purchasing an additional 53,300 shares during the quarter. LSV Asset Management owned 1.06% of Apple Hospitality REIT worth $37,398,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $36,260,000. Vanguard Group Inc. increased its holdings in shares of Apple Hospitality REIT by 3.5% during the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after buying an additional 1,217,142 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Apple Hospitality REIT by 17.2% during the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after buying an additional 881,217 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Apple Hospitality REIT by 47.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock worth $34,977,000 after buying an additional 678,905 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Apple Hospitality REIT by 3,768.4% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after buying an additional 339,156 shares in the last quarter. 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 Apple Hospitality REIT stock in a transaction dated Thursday, August 8th. The shares were bought at an average cost of $14.04 per share, with a total value of $70,200.00. Following the completion of the transaction, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $14.08 on Tuesday. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.90. The stock has a market cap of $3.41 billion, a PE ratio of 16.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50 day moving average price is $14.40 and its two-hundred day moving average price is $14.99.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The business had revenue of $390.08 million during the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period in the previous year, the business posted $0.49 earnings per share. As a group, analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.82%. Apple Hospitality REIT’s dividend payout ratio is 111.63%.

Wall Street Analysts Forecast Growth

APLE has been the subject of a number of research reports. Wedbush initiated coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target for the company. Oppenheimer lowered their price target on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.00.

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 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.