Independent Advisor Alliance Increases Stake in Apple Hospitality REIT Inc (APLE)
Independent Advisor Alliance grew its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,592 shares of the real estate investment trust’s stock after buying an additional 2,956 shares during the period. Independent Advisor Alliance’s holdings in Apple Hospitality REIT were worth $1,106,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in APLE. BlackRock Inc. boosted its holdings in shares of Apple Hospitality REIT by 10.7% during the 2nd quarter. BlackRock Inc. now owns 13,276,704 shares of the real estate investment trust’s stock valued at $248,408,000 after buying an additional 1,282,080 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Apple Hospitality REIT by 5,789.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 830,431 shares of the real estate investment trust’s stock worth $15,704,000 after purchasing an additional 816,331 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new position in shares of Apple Hospitality REIT in the 2nd quarter worth about $10,925,000. Schwab Charles Investment Management Inc. raised its position in shares of Apple Hospitality REIT by 36.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,167,127 shares of the real estate investment trust’s stock worth $40,981,000 after purchasing an additional 582,794 shares during the last quarter. Finally, Cohen & Steers Inc. raised its position in shares of Apple Hospitality REIT by 7.8% in the 3rd quarter. Cohen & Steers Inc. now owns 6,988,766 shares of the real estate investment trust’s stock worth $132,158,000 after purchasing an additional 507,598 shares during the last quarter. Hedge funds and other institutional investors own 50.91% of the company’s stock.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $19.18 per share, with a total value of $95,900.00. Following the transaction, the insider now owns 10,046,357 shares in the company, valued at $192,689,127.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by insiders.
Apple Hospitality REIT Inc (APLE) opened at $19.65 on Wednesday. Apple Hospitality REIT Inc has a 52-week low of $17.49 and a 52-week high of $20.68. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market capitalization of $4,363.07, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62.
Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The business had revenue of $324.90 million during the quarter, compared to analyst estimates of $324.66 million. During the same quarter in the previous year, the firm earned $0.49 EPS. Apple Hospitality REIT’s revenue was up 17.5% on a year-over-year basis. equities analysts forecast that Apple Hospitality REIT Inc will post 1.74 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, December 4th will be given a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date of this dividend is Friday, December 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 118.81%.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of October 23, 2017, the Company owned 238 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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