Oliver Luxxe Assets LLC Acquires Shares of 67,306 Apple Hospitality REIT, Inc. (NYSE:APLE)

Oliver Luxxe Assets LLC purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 67,306 shares of the real estate investment trust’s stock, valued at approximately $1,102,000.

Several other institutional investors have also modified their holdings of APLE. Vanguard Group Inc. grew its position in shares of Apple Hospitality REIT by 7.5% during the third quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock worth $542,574,000 after buying an additional 2,476,241 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Apple Hospitality REIT by 17.5% in the third quarter. Ameriprise Financial Inc. now owns 3,375,459 shares of the real estate investment trust’s stock valued at $51,746,000 after purchasing an additional 502,472 shares during the period. Norges Bank acquired a new position in Apple Hospitality REIT during the fourth quarter worth $36,260,000. Goldman Sachs Group Inc. grew its holdings in Apple Hospitality REIT by 47.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock worth $34,977,000 after acquiring an additional 678,905 shares during the period. Finally, Legal & General Group Plc grew its holdings in Apple Hospitality REIT by 24.7% in the third quarter. Legal & General Group Plc now owns 1,928,229 shares of the real estate investment trust’s stock valued at $29,579,000 after purchasing an additional 381,860 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on APLE shares. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Wedbush started coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and an average price target of $17.83.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $14.78 per share, with a total value of $73,900.00. Following the acquisition, the chairman now directly owns 631,990 shares in the company, valued at approximately $9,340,812.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by insiders.

Apple Hospitality REIT Trading Down 1.5 %

Shares of Apple Hospitality REIT stock traded down $0.22 during trading hours on Monday, reaching $14.32. The stock had a trading volume of 560,912 shares, compared to its average volume of 2,077,274. The firm has a 50 day simple moving average of $14.63 and a two-hundred day simple moving average of $15.74. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 16.91 and a beta of 1.11. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.48. Apple Hospitality REIT, Inc. has a 1 year low of $13.96 and a 1 year high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The company had revenue of $329.51 million during the quarter, compared to analyst estimates of $324.68 million. During the same quarter last year, the business posted $0.34 EPS. As a group, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.4 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, June 28th. This represents a $0.96 dividend on an annualized basis and a yield of 6.70%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Apple Hospitality REIT 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.