Algert Global LLC Makes New $337,000 Investment in Apple Hospitality REIT, Inc. (NYSE:APLE)

Algert Global LLC bought a new position in Apple Hospitality REIT, Inc. (NYSE:APLE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,178 shares of the real estate investment trust’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Apple Hospitality REIT in the fourth quarter worth about $154,000. Teachers Retirement System of The State of Kentucky raised its holdings in Apple Hospitality REIT by 13.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 65,000 shares of the real estate investment trust’s stock worth $1,079,000 after purchasing an additional 7,600 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Apple Hospitality REIT by 47.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,105,783 shares of the real estate investment trust’s stock valued at $34,977,000 after buying an additional 678,905 shares during the period. Fortis Group Advisors LLC boosted its holdings 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 valued at $50,000 after buying an additional 1,493 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Apple Hospitality REIT by 3.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock valued at $497,000 after buying an additional 859 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APLE has been the subject of a number of recent research reports. Oppenheimer reissued an “outperform” rating and set a $17.00 price target on shares of Apple Hospitality REIT in a research report on Friday, October 4th. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.25.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $14.04 per share, with a total value of $70,200.00. Following the acquisition, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is owned by insiders.

Apple Hospitality REIT Trading Up 0.5 %

Shares of NYSE APLE opened at $15.18 on Wednesday. The firm’s 50 day moving average price is $14.45 and its 200-day moving average price is $14.75. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $3.68 billion, a PE ratio of 17.65 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data 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). The business had revenue of $390.08 million during the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period last year, the company posted $0.49 earnings per share. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

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

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.