Sequoia Financial Advisors LLC Buys Shares of 60,975 Apple Hospitality REIT, Inc. $APLE

Sequoia Financial Advisors LLC purchased a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,975 shares of the real estate investment trust’s stock, valued at approximately $702,000.

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC boosted its stake 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 purchasing an additional 1,814 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Apple Hospitality REIT by 1,375.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Apple Hospitality REIT during the third quarter worth $36,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at $43,000. Finally, Inspire Investing LLC boosted its holdings in Apple Hospitality REIT by 2,965.1% in the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 3,736 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This represents a 0.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.90% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $16.84 on Monday. The firm’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $13.49. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 8.22 and a beta of 0.87. Apple Hospitality REIT, Inc. has a 12 month low of $10.85 and a 12 month high of $17.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The firm had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. As a group, equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.7%. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cantor Fitzgerald upped their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. BMO Capital Markets boosted their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Friday, June 12th. Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. LADENBURG THALM/SH SH raised their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Wells Fargo & Company boosted their target price on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.94.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.