Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 13.7% during the third quarter, Holdings Channel.com reports. The fund owned 23,260 shares of the real estate investment trust’s stock after selling 3,680 shares during the quarter. Everence Capital Management Inc.’s holdings in Apple Hospitality REIT were worth $345,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake 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. Amalgamated Bank boosted its stake in Apple Hospitality REIT by 1.2% during the 2nd quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 813 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Apple Hospitality REIT by 3.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock worth $497,000 after purchasing an additional 859 shares during the last quarter. Inspire Advisors LLC boosted its position in shares of Apple Hospitality REIT by 8.2% during the 3rd quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,008 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Apple Hospitality REIT by 1.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock valued at $986,000 after acquiring an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $15.00 on Tuesday. The firm has a market cap of $3.64 billion, a P/E ratio of 17.44 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The company’s 50-day moving average price is $14.61 and its 200 day moving average price is $14.67. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data 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). The company had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same quarter last year, the firm posted $0.49 earnings per share. On average, sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.40%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 111.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APLE. Oppenheimer reissued an “outperform” rating and set a $17.00 price target on shares of Apple Hospitality REIT in a research report on Friday, October 4th. Wells Fargo & Company lowered 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 research report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.25.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the purchase, the chairman now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

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.