Apple Hospitality REIT, Inc. (NYSE:APLE) is Monarch Alternative Capital LP’s Largest Position

Monarch Alternative Capital LP increased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 44.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,284,900 shares of the real estate investment trust’s stock after buying an additional 1,617,882 shares during the period. Apple Hospitality REIT comprises about 5.2% of Monarch Alternative Capital LP’s holdings, making the stock its biggest position. Monarch Alternative Capital LP owned about 2.36% of Apple Hospitality REIT worth $77,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lido Advisors LLC increased its stake in shares of Apple Hospitality REIT by 1.7% in the first quarter. Lido Advisors LLC now owns 40,807 shares of the real estate investment trust’s stock worth $595,000 after purchasing an additional 688 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Apple Hospitality REIT by 7.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,029 shares of the real estate investment trust’s stock worth $218,000 after purchasing an additional 1,066 shares in the last quarter. Westpac Banking Corp increased its stake in shares of Apple Hospitality REIT by 0.6% in the first quarter. Westpac Banking Corp now owns 197,303 shares of the real estate investment trust’s stock worth $2,875,000 after purchasing an additional 1,183 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Apple Hospitality REIT by 29.5% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,442 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in shares of Apple Hospitality REIT by 3.3% in the first quarter. Cascade Investment Advisors Inc. now owns 49,115 shares of the real estate investment trust’s stock worth $716,000 after purchasing an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 71.41% of the company’s stock.

Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, June 28th. Barclays boosted their price objective on shares of Apple Hospitality REIT from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, June 4th. Finally, B. Riley lifted their target price on shares of Apple Hospitality REIT from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, June 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.40.

In related news, Director Kristian M. Gathright sold 17,642 shares of the company’s stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $16.50, for a total value of $291,093.00. Following the transaction, the director now owns 1,009,240 shares in the company, valued at approximately $16,652,460. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kristian M. Gathright sold 10,576 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $16.00, for a total transaction of $169,216.00. Following the transaction, the director now owns 1,026,537 shares in the company, valued at approximately $16,424,592. The disclosure for this sale can be found here. Insiders have sold a total of 41,234 shares of company stock valued at $662,211 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Shares of APLE traded down $0.27 during mid-day trading on Thursday, reaching $14.75. The company’s stock had a trading volume of 18,581 shares, compared to its average volume of 3,009,056. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 0.56. Apple Hospitality REIT, Inc. has a 52 week low of $8.44 and a 52 week high of $16.57. The stock’s fifty day moving average price is $15.50.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, May 5th. The real estate investment trust reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.24). Apple Hospitality REIT had a negative net margin of 41.50% and a negative return on equity of 7.10%. As a group, equities research analysts predict that Apple Hospitality REIT, Inc. will post 0.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, June 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. Apple Hospitality REIT’s dividend payout ratio is currently 44.44%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (ÂREITÂ) 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 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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