Inlet Private Wealth LLC Has $3.20 Million Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Inlet Private Wealth LLC boosted its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 215,275 shares of the real estate investment trust’s stock after buying an additional 18,700 shares during the period. Inlet Private Wealth LLC owned approximately 0.09% of Apple Hospitality REIT worth $3,197,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC increased 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 valued at $40,000 after purchasing an additional 780 shares in the last quarter. Amalgamated Bank increased its position in shares of Apple Hospitality REIT by 1.2% during the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock worth $996,000 after acquiring an additional 813 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Apple Hospitality REIT by 3.0% in 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 acquiring an additional 859 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Apple Hospitality REIT by 1.7% in 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 in the last quarter. Finally, United Services Automobile Association boosted its stake in Apple Hospitality REIT by 7.6% during the 2nd quarter. United Services Automobile Association now owns 15,408 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 1,094 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

NYSE APLE traded down $0.13 during trading hours on Thursday, reaching $15.11. 276,860 shares of the company were exchanged, compared to its average volume of 2,082,869. The stock has a market capitalization of $3.66 billion, a P/E ratio of 17.73 and a beta of 1.12. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The business’s 50 day simple moving average is $14.52 and its 200-day simple moving average is $14.70.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (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 firm had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same period in the prior year, the business earned $0.49 earnings per share. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.08 per share. The ex-dividend date was Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.35%. Apple Hospitality REIT’s dividend payout ratio is presently 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 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 directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

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