Sound Income Strategies LLC Raises Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Sound Income Strategies LLC lifted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 13.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 617,922 shares of the real estate investment trust’s stock after purchasing an additional 74,066 shares during the period. Sound Income Strategies LLC owned 0.25% of Apple Hospitality REIT worth $10,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of APLE. Vanguard Group Inc. boosted its stake in shares of Apple Hospitality REIT by 7.5% during the third quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock valued at $542,574,000 after purchasing an additional 2,476,241 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Apple Hospitality REIT by 17.5% during the third quarter. Ameriprise Financial Inc. now owns 3,375,459 shares of the real estate investment trust’s stock valued at $51,746,000 after purchasing an additional 502,472 shares in the last quarter. Norges Bank bought a new position in Apple Hospitality REIT in the fourth quarter worth about $36,260,000. Goldman Sachs Group Inc. raised its holdings in Apple Hospitality REIT by 47.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock worth $34,977,000 after purchasing an additional 678,905 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Apple Hospitality REIT by 24.7% during the third quarter. Legal & General Group Plc now owns 1,928,229 shares of the real estate investment trust’s stock valued at $29,579,000 after buying an additional 381,860 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

APLE has been the subject of several research analyst reports. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Wedbush initiated coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.83.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the acquisition, the chairman now owns 631,990 shares of the company’s stock, valued at approximately $9,340,812.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.80% of the stock is owned by corporate insiders.

Apple Hospitality REIT Trading Down 0.7 %

Shares of APLE traded down $0.09 during midday trading on Wednesday, reaching $14.27. The company had a trading volume of 2,072,086 shares, compared to its average volume of 2,066,960. The firm has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $15.79. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.46 billion, a PE ratio of 16.55 and a beta of 1.10. Apple Hospitality REIT, Inc. has a 1-year low of $13.96 and a 1-year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. The business had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. Research analysts forecast that Apple Hospitality REIT, Inc. will post 1.4 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.96 annualized dividend and a yield of 6.73%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

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.