Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Purchased by AdvisorShares Investments LLC

AdvisorShares Investments LLC increased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 16.7% during the 2nd quarter, Holdings Channel reports. The fund owned 10,447 shares of the real estate investment trust’s stock after purchasing an additional 1,496 shares during the quarter. AdvisorShares Investments LLC’s holdings in Apple Hospitality REIT were worth $149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Securities Inc. acquired a new stake in Apple Hospitality REIT in the fourth quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new stake in Apple Hospitality REIT in the second quarter valued at approximately $26,000. YHB Investment Advisors Inc. acquired a new stake in Apple Hospitality REIT in the first quarter valued at approximately $37,000. Fortis Group Advisors LLC grew its holdings in Apple Hospitality REIT by 100.0% in the fourth 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 period. Finally, Covestor Ltd grew its holdings in Apple Hospitality REIT by 115.6% in the first 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 period. 89.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the transaction, the chairman now owns 636,990 shares in the company, valued at approximately $8,943,339.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is currently owned by company insiders.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $14.16 on Friday. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 16.47 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The business’s 50 day moving average price is $14.39 and its 200 day moving average price is $14.96.

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

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.78%. Apple Hospitality REIT’s payout ratio is 111.63%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APLE. Wedbush began coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target on the stock. Oppenheimer lowered their price target on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

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.