AdvisorShares Investments LLC Trims Stake in Apple Hospitality REIT, Inc. $APLE

AdvisorShares Investments LLC lowered its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 32.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,377 shares of the real estate investment trust’s stock after selling 4,470 shares during the period. AdvisorShares Investments LLC’s holdings in Apple Hospitality REIT were worth $109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in shares of Apple Hospitality REIT by 12,230.0% in the second quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 2,446 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Apple Hospitality REIT by 444.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 2,280 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Apple Hospitality REIT in the first quarter valued at approximately $57,000. Finally, Security National Bank acquired a new position in shares of Apple Hospitality REIT in the second quarter valued at approximately $60,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $12.29 per share, with a total value of $61,450.00. Following the completion of the transaction, the chairman directly owned 705,344 shares of the company’s stock, valued at approximately $8,668,677.76. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on APLE. Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a research report on Thursday. Cantor Fitzgerald began coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price objective for the company. Wells Fargo & Company raised shares of Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Finally, Robert W. Baird dropped their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Apple Hospitality REIT Trading Down 1.9%

APLE stock opened at $11.19 on Friday. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 14.91 and a beta of 1.02. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $12.15 and a 200-day simple moving average of $12.00. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $384.37 million during the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 8.6%. Apple Hospitality REIT’s dividend payout ratio is presently 128.00%.

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.