Wolverine Asset Management LLC Takes Position in Apple Hospitality REIT, Inc. $APLE

Wolverine Asset Management LLC acquired a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 449,698 shares of the real estate investment trust’s stock, valued at approximately $5,248,000. Wolverine Asset Management LLC owned approximately 0.19% of Apple Hospitality REIT at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APLE. Strs Ohio lifted its holdings in shares of Apple Hospitality REIT by 143.6% in the second quarter. Strs Ohio now owns 829,334 shares of the real estate investment trust’s stock worth $9,678,000 after acquiring an additional 488,934 shares during the last quarter. Hantz Financial Services Inc. increased its position in Apple Hospitality REIT by 12,230.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 2,446 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Apple Hospitality REIT by 3.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 34,474 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 1,143 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in Apple Hospitality REIT by 34.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 92,006 shares of the real estate investment trust’s stock valued at $1,074,000 after buying an additional 23,761 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Apple Hospitality REIT by 25.5% during the second quarter. Envestnet Asset Management Inc. now owns 74,096 shares of the real estate investment trust’s stock worth $865,000 after buying an additional 15,033 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the transaction, the chairman directly owned 705,344 shares of the company’s stock, valued at approximately $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is owned by company insiders.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $11.39 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The firm’s fifty day simple moving average is $12.18 and its 200 day simple moving average is $12.00. The stock has a market cap of $2.70 billion, a P/E ratio of 15.19 and a beta of 1.02.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. The company had revenue of $384.37 million for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 8.4%. The ex-dividend date is Friday, October 31st. Apple Hospitality REIT’s dividend payout ratio is presently 128.00%.

Analyst Ratings Changes

Several brokerages have issued reports on APLE. Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Robert W. Baird decreased their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. 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 target price on the stock. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

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.