Covestor Ltd Purchases 1,831 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Covestor Ltd increased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 30.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,932 shares of the real estate investment trust’s stock after acquiring an additional 1,831 shares during the quarter. Covestor Ltd’s holdings in Apple Hospitality REIT were worth $118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in Apple Hospitality REIT in the second quarter worth about $26,000. Quarry LP boosted its stake 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 in the last quarter. GAMMA Investing LLC grew its position 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 worth $40,000 after purchasing an additional 780 shares during the last quarter. Headlands Technologies LLC increased its stake in Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 5,420 shares in the last quarter. Finally, Palouse Capital Management Inc. purchased a new position in shares of Apple Hospitality REIT in the second quarter worth $99,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $15.91 on Wednesday. The company has a market capitalization of $3.82 billion, a P/E ratio of 18.72 and a beta of 1.11. The business’s 50-day moving average is $14.91 and its two-hundred day moving average is $14.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.75 and a current ratio of 0.04. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. Research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.03%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Analysts Set New Price Targets

APLE has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective 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. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.50.

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.