Peregrine Capital Management LLC Takes $5.13 Million Position in Apple Hospitality REIT, Inc. $APLE

Peregrine Capital Management LLC purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 427,031 shares of the real estate investment trust’s stock, valued at approximately $5,129,000. Peregrine Capital Management LLC owned approximately 0.18% of Apple Hospitality REIT at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APLE. Signaturefd LLC boosted its position in Apple Hospitality REIT by 14.9% during the second quarter. Signaturefd LLC now owns 7,058 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 913 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Apple Hospitality REIT by 1.4% during the 2nd quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock worth $937,000 after buying an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Apple Hospitality REIT by 3.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 34,474 shares of the real estate investment trust’s stock worth $402,000 after buying an additional 1,143 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Apple Hospitality REIT by 22.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 1,202 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Apple Hospitality REIT by 6.6% in the 2nd quarter. Cetera Investment Advisers now owns 22,288 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 1,387 shares in the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APLE has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a report on Friday, October 3rd. Cantor Fitzgerald started coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They set an “overweight” rating and a $14.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Finally, Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price objective on the stock. in a research note on Tuesday, November 4th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus target price of $12.92.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock opened at $12.49 on Friday. The stock has a fifty day moving average price of $11.86 and a 200 day moving average price of $12.05. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.01. The firm has a market capitalization of $2.95 billion, a P/E ratio of 17.10 and a beta of 0.85. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a return on equity of 5.46% and a net margin of 12.37%.The company had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $371.94 million. Equities research analysts anticipate 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 announced a monthly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Wednesday, December 31st. Apple Hospitality REIT’s payout ratio is presently 131.51%.

Insider Buying and Selling

In related news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average price of $11.91 per share, with a total value of $59,550.00. Following the completion of the transaction, the chairman owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 8,000 shares of company stock worth $95,180 over the last ninety days. Corporate insiders own 7.10% of the company’s stock.

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.