Spirit of America Management Corp NY Sells 7,500 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Spirit of America Management Corp NY lowered its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,210 shares of the real estate investment trust’s stock after selling 7,500 shares during the period. Spirit of America Management Corp NY’s holdings in Apple Hospitality REIT were worth $419,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in Apple Hospitality REIT during the 2nd quarter valued at $26,000. Quarry LP grew its holdings in shares of Apple Hospitality REIT by 127.5% during the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 780 shares in the last quarter. Fortis Group Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 45.6% in the first quarter. Fortis Group Advisors LLC now owns 4,349 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 1,363 shares during the last quarter. Finally, Covestor Ltd lifted its position in Apple Hospitality REIT by 115.6% during the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 2,313 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $16.25.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the acquisition, the chairman now directly owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $14.93 on Friday. The stock has a market cap of $3.62 billion, a P/E ratio of 17.36 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The stock’s 50-day moving average price is $14.66 and its two-hundred day moving average price is $14.67. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). The firm had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.43%. Apple Hospitality REIT’s dividend payout ratio is presently 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.