Inlet Private Wealth LLC Grows Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Inlet Private Wealth LLC lifted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 215,275 shares of the real estate investment trust’s stock after purchasing an additional 18,700 shares during the quarter. Inlet Private Wealth LLC’s holdings in Apple Hospitality REIT were worth $3,197,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on APLE. Wells Fargo & Company cut their target price on 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. 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.25.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the purchase, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Stock Down 0.9 %

Apple Hospitality REIT stock traded down $0.13 during trading hours on Thursday, hitting $15.11. 276,860 shares of the stock traded hands, compared to its average volume of 2,082,869. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90. The company has a market cap of $3.66 billion, a PE ratio of 17.73 and a beta of 1.12. The firm’s 50-day moving average price is $14.52 and its two-hundred day moving average price is $14.70. 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 results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same period in the previous year, the company earned $0.49 earnings per share. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.35%. The ex-dividend date of this dividend was Monday, September 30th. Apple Hospitality REIT’s payout ratio is currently 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.