Wolverine Asset Management LLC Has $2.55 Million Position in Apple Hospitality REIT, Inc. $APLE

Wolverine Asset Management LLC decreased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 52.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,607 shares of the real estate investment trust’s stock after selling 237,091 shares during the period. Wolverine Asset Management LLC’s holdings in Apple Hospitality REIT were worth $2,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in shares of Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock valued at $2,205,000 after acquiring an additional 4,712 shares during the period. AQR Capital Management LLC raised its stake in Apple Hospitality REIT by 114.3% during the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after buying an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after purchasing an additional 6,788 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of 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 worth $31,000 after acquiring an additional 1,814 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Apple Hospitality REIT by 10,235.7% in the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 21,495 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a research note on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price target on the stock. Barclays began coverage on shares of Apple Hospitality REIT in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price target on the stock. Robert W. Baird reduced their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective for the company. in a report on Tuesday, November 4th. Finally, Wells Fargo & Company raised shares of Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.92.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was bought at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the transaction, the chairman directly owned 710,344 shares of the company’s stock, valued at $8,460,197.04. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 8,000 shares of company stock valued at $95,180 over the last ninety days. Corporate insiders own 7.10% of the company’s stock.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $12.38 on Friday. The business has a 50 day moving average of $11.97 and a 200-day moving average of $12.07. The company has a market capitalization of $2.93 billion, a P/E ratio of 16.96 and a beta of 0.85. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. On average, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Wednesday, December 31st. Apple Hospitality REIT’s payout ratio is 131.51%.

About Apple Hospitality REIT

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.