Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 10.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 907,983 shares of the real estate investment trust’s stock after buying an additional 89,382 shares during the quarter. Sound Income Strategies LLC owned approximately 0.38% of Apple Hospitality REIT worth $13,938,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quarry LP raised its holdings in Apple Hospitality REIT by 127.5% in the 2nd 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 period. GAMMA Investing LLC increased its position 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. Covestor Ltd lifted its position in shares of Apple Hospitality REIT by 30.0% during the 3rd quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 1,831 shares in the last quarter. Blue Trust Inc. grew its stake in Apple Hospitality REIT by 21.3% in the 3rd quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 2,059 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Apple Hospitality REIT by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 2,506 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

APLE has been the subject of several research analyst reports. 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 research report on Friday, November 8th. BMO Capital Markets began coverage on Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.50.

Apple Hospitality REIT Price Performance

APLE stock opened at $15.26 on Friday. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $16.99. The business has a fifty day moving average of $15.55 and a two-hundred day moving average of $15.01. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 17.95 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm 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 quarter last year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.29%. Apple Hospitality REIT’s payout ratio is 112.94%.

Apple Hospitality REIT 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.