Sound Income Strategies LLC Raises Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Sound Income Strategies LLC lifted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 14.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,601 shares of the real estate investment trust’s stock after purchasing an additional 105,993 shares during the period. Sound Income Strategies LLC’s holdings in Apple Hospitality REIT were worth $12,156,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EdgeRock Capital LLC purchased a new stake in Apple Hospitality REIT in the 2nd quarter worth approximately $26,000. Quarry LP grew 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 acquiring an additional 1,290 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares during the last quarter. Fortis Group Advisors LLC boosted its holdings in shares of Apple Hospitality REIT by 100.0% in 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 purchasing an additional 1,493 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of 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 purchasing an additional 2,313 shares during the last quarter. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 0.9 %

Apple Hospitality REIT stock traded up $0.13 during midday trading on Friday, hitting $15.19. 2,777,101 shares of the stock were exchanged, compared to its average volume of 2,101,231. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The firm has a market cap of $3.68 billion, a P/E ratio of 17.66 and a beta of 1.12. 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 company has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $14.74.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $388.82 million. During the same period last year, the firm earned $0.49 EPS. On average, sell-side analysts predict that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, September 30th. Apple Hospitality REIT’s payout ratio is currently 111.63%.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APLE. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price target on shares of Apple Hospitality REIT in a report on Friday, October 4th. Wells Fargo & Company decreased 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. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.25.

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.