Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Acquired by Ellis Investment Partners LLC

Ellis Investment Partners LLC lifted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,383 shares of the real estate investment trust’s stock after acquiring an additional 948 shares during the quarter. Ellis Investment Partners LLC’s holdings in Apple Hospitality REIT were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in APLE. EdgeRock Capital LLC acquired a new position in shares of Apple Hospitality REIT during the second quarter valued at approximately $26,000. Quarry LP increased its stake 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 valued at $33,000 after acquiring an additional 1,290 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 780 shares during the period. Fortis Group Advisors LLC increased its stake in shares of Apple Hospitality REIT by 45.6% during 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 acquiring an additional 1,363 shares during the period. Finally, Covestor Ltd boosted its holdings in Apple Hospitality REIT by 115.6% during the first 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 and hedge funds own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on APLE shares. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Oppenheimer restated an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a report 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.25.

Insider Buying and Selling

In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $14.04 per share, with a total value of $70,200.00. Following the purchase, the chairman now 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Trading Down 0.3 %

Apple Hospitality REIT stock opened at $14.89 on Monday. The company has a 50 day moving average price of $14.67 and a 200 day moving average price of $14.64. Apple Hospitality REIT, Inc. has a 52 week low of $13.60 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 17.31 and a beta of 1.12.

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 analysts’ consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same period in the prior year, the business posted $0.49 EPS. Research analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is 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.