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

Sound Income Strategies LLC increased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 12.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,016,816 shares of the real estate investment trust's stock after buying an additional 108,833 shares during the quarter. Sound Income Strategies LLC owned about 0.43% of Apple Hospitality REIT worth $13,127,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Apple Hospitality REIT by 27.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust's stock worth $126,472,000 after acquiring an additional 1,761,996 shares during the period. Norges Bank bought a new stake in Apple Hospitality REIT in the 4th quarter worth approximately $21,099,000. ExodusPoint Capital Management LP raised its stake in Apple Hospitality REIT by 126.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 899,842 shares of the real estate investment trust's stock valued at $13,813,000 after buying an additional 503,114 shares during the last quarter. Woodline Partners LP bought a new position in shares of Apple Hospitality REIT during the 4th quarter valued at $5,898,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth $5,451,000. Hedge funds and other institutional investors own 89.66% of the company's stock.

Analysts Set New Price Targets

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

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE traded up $0.05 during midday trading on Wednesday, hitting $11.57. The company had a trading volume of 3,185,881 shares, compared to its average volume of 2,321,217. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. The company has a fifty day moving average of $11.73 and a two-hundred day moving average of $13.65. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 14.64 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. The business had revenue of $327.70 million during the quarter, compared to analysts' expectations of $332.86 million. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a may 25 dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $0.08 per share. This represents a yield of 8.3%. The ex-dividend date was Friday, May 30th. Apple Hospitality REIT's payout ratio is 121.52%.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $11.43 per share, for a total transaction of $114,300.00. Following the purchase, the chairman now owns 700,344 shares of the company's stock, valued at approximately $8,004,931.92. This represents a 1.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have bought 12,000 shares of company stock worth $137,120. Company insiders own 7.10% of the company's stock.

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.