Covestor Ltd Acquires 2,313 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Covestor Ltd grew its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 115.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,314 shares of the real estate investment trust’s stock after acquiring an additional 2,313 shares during the quarter. Covestor Ltd’s holdings in Apple Hospitality REIT were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of APLE. Vanguard Group Inc. grew its holdings in Apple Hospitality REIT by 3.5% during the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after buying an additional 1,217,142 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Apple Hospitality REIT by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 7,298,700 shares of the real estate investment trust’s stock valued at $119,553,000 after purchasing an additional 247,110 shares during the last quarter. Norges Bank purchased a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at $36,260,000. Goldman Sachs Group Inc. increased its position in shares of Apple Hospitality REIT by 47.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock valued at $34,977,000 after purchasing an additional 678,905 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Apple Hospitality REIT by 13.6% during the 1st quarter. Sound Income Strategies LLC now owns 617,922 shares of the real estate investment trust’s stock valued at $10,122,000 after purchasing an additional 74,066 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Analyst Ratings Changes

APLE has been the subject of several research reports. Wedbush initiated coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target for the company. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $17.40.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $14.78 per share, with a total value of $73,900.00. Following the purchase, the chairman now directly owns 631,990 shares of the company’s stock, valued at $9,340,812.20. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $14.79 on Thursday. The company has a market cap of $3.58 billion, a PE ratio of 17.20 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $14.50 and a 200-day moving average price of $15.46. Apple Hospitality REIT, Inc. has a 12-month low of $13.95 and a 12-month high of $17.90.

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

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.08 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.49%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

Apple Hospitality REIT Company Profile

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.