250,768 Shares in Apple Hospitality REIT, Inc. $APLE Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 250,768 shares of the real estate investment trust’s stock, valued at approximately $4,215,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Apple Hospitality REIT by 6.0% in the first quarter. Bank of America Corp DE now owns 2,049,081 shares of the real estate investment trust’s stock valued at $23,585,000 after buying an additional 115,575 shares during the last quarter. Hsbc Holdings PLC boosted its position in Apple Hospitality REIT by 19.6% during the fourth quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust’s stock worth $4,443,000 after acquiring an additional 61,354 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in Apple Hospitality REIT during the first quarter worth approximately $1,123,000. Sequoia Financial Advisors LLC purchased a new stake in Apple Hospitality REIT in the 1st quarter worth approximately $702,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Apple Hospitality REIT in the 1st quarter worth approximately $3,126,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $15.59 on Friday. Apple Hospitality REIT, Inc. has a twelve month low of $10.85 and a twelve month high of $17.28. The stock has a market capitalization of $3.68 billion, a P/E ratio of 21.07, a PEG ratio of 3.01 and a beta of 0.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. The business’s fifty day moving average price is $16.43 and its 200 day moving average price is $14.50.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $402.55 million during the quarter, compared to analyst estimates of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. As a group, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.64 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. Apple Hospitality REIT’s payout ratio is presently 129.73%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APLE. JPMorgan Chase & Co. raised their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Barclays reiterated an “equal weight” rating and issued a $17.00 target price (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Apple Hospitality REIT in a research note on Friday, August 21st. Wells Fargo & Company lifted their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Finally, Bank of America upped their price objective on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.50.

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.