QRG Capital Management Inc. Acquires 7,120 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

QRG Capital Management Inc. lifted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,902 shares of the real estate investment trust’s stock after acquiring an additional 7,120 shares during the period. QRG Capital Management Inc.’s holdings in Apple Hospitality REIT were worth $1,653,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in APLE. Principal Securities Inc. purchased a new stake in Apple Hospitality REIT in the 4th quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in shares of Apple Hospitality REIT in the fourth quarter worth $27,000. YHB Investment Advisors Inc. purchased a new position in Apple Hospitality REIT during the first quarter worth about $37,000. GAMMA Investing LLC purchased a new position in Apple Hospitality REIT during the fourth quarter worth about $41,000. Finally, Fortis Group Advisors LLC increased its stake in Apple Hospitality REIT by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,493 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

APLE traded up $0.25 during midday trading on Wednesday, hitting $15.31. The stock had a trading volume of 546,621 shares, compared to its average volume of 2,056,052. Apple Hospitality REIT, Inc. has a 1 year low of $13.95 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. The business has a fifty day moving average of $14.48 and a 200 day moving average of $15.52. The company has a market cap of $3.71 billion, a P/E ratio of 17.52 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same period last year, the company posted $0.34 EPS. As a group, equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.96 annualized dividend and a dividend yield of 6.27%. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. 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 on the stock. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.40.

Insider Activity

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average cost of $14.78 per share, with a total value of $73,900.00. Following the completion of the purchase, the chairman now directly owns 631,990 shares in the company, valued at $9,340,812.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is currently owned by corporate 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 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.