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

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth about $26,000. Quarry LP grew its position in Apple Hospitality REIT by 127.5% in the second 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 in the last quarter. GAMMA Investing LLC raised its position in 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 purchasing an additional 780 shares during the period. Headlands Technologies LLC lifted its stake in shares of Apple Hospitality REIT by 4,406.5% in 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 during the last quarter. Finally, Palouse Capital Management Inc. purchased a new position in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $99,000. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock opened at $15.91 on Wednesday. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 18.72 and a beta of 1.11. The firm has a 50-day moving average of $14.91 and a two-hundred day moving average of $14.64. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.75.

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

Apple Hospitality REIT Announces Dividend

The firm 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 6.03%. The ex-dividend date is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Oppenheimer restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Wells Fargo & Company dropped their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.50.

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.