B. Riley Wealth Advisors Inc. Boosts Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

B. Riley Wealth Advisors Inc. raised its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,032 shares of the real estate investment trust’s stock after purchasing an additional 2,422 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Apple Hospitality REIT were worth $329,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in Apple Hospitality REIT by 1.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 86,027 shares of the real estate investment trust’s stock worth $1,258,000 after acquiring an additional 1,528 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Apple Hospitality REIT by 7.6% in the second quarter. Louisiana State Employees Retirement System now owns 113,400 shares of the real estate investment trust’s stock valued at $1,649,000 after purchasing an additional 8,000 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Apple Hospitality REIT by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 1,952,818 shares of the real estate investment trust’s stock valued at $28,394,000 after purchasing an additional 85,733 shares in the last quarter. Bailard Inc. purchased a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $156,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Apple Hospitality REIT by 2,643.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,330 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 36,933 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Up 1.8 %

Apple Hospitality REIT stock opened at $15.61 on Friday. The stock has a market cap of $3.75 billion, a PE ratio of 18.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock’s fifty day moving average is $15.58 and its two-hundred day moving average is $14.88. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $17.30.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.15%. The ex-dividend date is Tuesday, December 31st. Apple Hospitality REIT’s payout ratio is 112.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on APLE shares. Wells Fargo & Company dropped their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and a consensus price target of $16.80.

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.