B. Riley Wealth Advisors Inc. Cuts Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

B. Riley Wealth Advisors Inc. lessened its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 31.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 19,610 shares of the real estate investment trust’s stock after selling 9,193 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Apple Hospitality REIT were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APLE. EdgeRock Capital LLC purchased a new position in Apple Hospitality REIT in the second quarter valued at about $26,000. Quarry LP boosted its holdings in shares of Apple Hospitality REIT by 127.5% in the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,290 shares in the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Apple Hospitality REIT in the 1st quarter worth approximately $37,000. Fortis Group Advisors LLC raised its stake in shares of Apple Hospitality REIT by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Covestor Ltd lifted its position in Apple Hospitality REIT by 115.6% during the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after acquiring an additional 2,313 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on APLE shares. Wells Fargo & Company cut their price target on shares of 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 restated an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.25.

Apple Hospitality REIT Stock Up 0.5 %

NYSE:APLE opened at $15.18 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $17.90. The company has a market cap of $3.68 billion, a PE ratio of 17.65 and a beta of 1.12. The company’s 50 day moving average is $14.45 and its two-hundred day moving average is $14.75.

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 the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same period in the previous year, the company earned $0.49 earnings per share. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Monday, September 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 111.63%.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is owned by insiders.

Apple Hospitality REIT Company 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.