Sound Income Strategies LLC Boosts Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Sound Income Strategies LLC raised its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,016,816 shares of the real estate investment trust's stock after acquiring an additional 108,833 shares during the period. Sound Income Strategies LLC owned about 0.43% of Apple Hospitality REIT worth $13,127,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in Apple Hospitality REIT by 27.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock valued at $126,472,000 after acquiring an additional 1,761,996 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Apple Hospitality REIT by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust's stock worth $103,885,000 after purchasing an additional 29,781 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Apple Hospitality REIT by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock worth $70,465,000 after purchasing an additional 133,505 shares during the period. Northern Trust Corp raised its stake in shares of Apple Hospitality REIT by 6.9% during the 4th quarter. Northern Trust Corp now owns 3,259,501 shares of the real estate investment trust's stock worth $50,033,000 after purchasing an additional 209,698 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Apple Hospitality REIT by 3.0% during the 4th quarter. Systematic Financial Management LP now owns 2,163,458 shares of the real estate investment trust's stock worth $33,209,000 after purchasing an additional 63,581 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Performance

APLE traded down $0.20 during trading hours on Friday, hitting $11.40. The stock had a trading volume of 5,278,997 shares, compared to its average volume of 2,306,159. The company's fifty day simple moving average is $11.72 and its 200 day simple moving average is $13.71. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The stock has a market cap of $2.71 billion, a PE ratio of 13.42 and a beta of 1.04. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The company had revenue of $327.70 million during the quarter, compared to analyst estimates of $332.86 million. Equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a may 25 dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.08 dividend. This represents a yield of 8.3%. The ex-dividend date of this dividend is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is currently 121.52%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APLE. BMO Capital Markets cut Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.75.

Insider Buying and Selling

In other news, Chairman Glade M. Knight acquired 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $11.43 per share, with a total value of $114,300.00. Following the acquisition, the chairman now owns 700,344 shares in the company, valued at $8,004,931.92. The trade was a 1.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 12,000 shares of company stock valued at $137,120. 7.10% of the stock is owned by insiders.

About Apple Hospitality REIT

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.