NorthCrest Asset Manangement LLC Acquires New Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

NorthCrest Asset Manangement LLC bought a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,863 shares of the real estate investment trust’s stock, valued at approximately $176,000.

A number of other institutional investors and hedge funds have also bought and sold shares of APLE. GAMMA Investing LLC raised its holdings in Apple Hospitality REIT by 40.4% during the 3rd 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 during the last quarter. Amalgamated Bank raised its stake in shares of Apple Hospitality REIT by 1.2% during the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 813 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 1,008 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of Apple Hospitality REIT by 1.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after purchasing an additional 1,050 shares during the last quarter. Finally, United Services Automobile Association raised its position in Apple Hospitality REIT by 7.6% during the 2nd quarter. United Services Automobile Association now owns 15,408 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 1,094 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Up 1.4 %

NYSE:APLE opened at $15.11 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The firm’s 50-day moving average price is $14.69 and its 200-day moving average price is $14.63. The company has a market capitalization of $3.66 billion, a PE ratio of 17.56 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share 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 business had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same quarter last year, the company posted $0.49 EPS. On average, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 111.63%.

Analyst Ratings Changes

Several research firms recently weighed in on APLE. Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. StockNews.com lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Oppenheimer reissued an “outperform” rating and issued a $17.00 price target on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.25.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.80% of the company’s stock.

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.