EdgeRock Capital LLC Takes $26,000 Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

EdgeRock Capital LLC bought a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,792 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Several other institutional investors also recently bought and sold shares of APLE. Principal Securities Inc. purchased a new stake in shares of Apple Hospitality REIT during the 4th quarter worth about $26,000. YHB Investment Advisors Inc. purchased a new stake in shares of Apple Hospitality REIT in the first quarter valued at approximately $37,000. GAMMA Investing LLC acquired a new position in shares of Apple Hospitality REIT during the 4th quarter worth approximately $41,000. Fortis Group Advisors LLC lifted its position in shares of Apple Hospitality REIT by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,493 shares in the last quarter. Finally, Covestor Ltd grew its stake in Apple Hospitality REIT by 115.6% in the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 2,313 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Trading Up 1.6 %

Apple Hospitality REIT stock traded up $0.23 during midday trading on Friday, reaching $14.50. 1,538,909 shares of the stock traded hands, compared to its average volume of 2,104,147. The firm has a market cap of $3.51 billion, a PE ratio of 16.86 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 company has a 50-day simple moving average of $14.45 and a two-hundred day simple moving average of $15.14. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The business had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same period in the previous year, the business posted $0.49 EPS. Research analysts expect that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 annualized dividend and a dividend yield of 6.62%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 111.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on APLE shares. Oppenheimer reduced their price objective on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Wedbush started coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price on the stock. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.

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.