Dakota Wealth Management Acquires 20,485 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Dakota Wealth Management increased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 10.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,654 shares of the real estate investment trust's stock after acquiring an additional 20,485 shares during the quarter. Dakota Wealth Management owned about 0.09% of Apple Hospitality REIT worth $2,823,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Apple Hospitality REIT during the 4th quarter valued at about $21,099,000. Martingale Asset Management L P grew its stake in shares of Apple Hospitality REIT by 133.4% during the 4th quarter. Martingale Asset Management L P now owns 95,642 shares of the real estate investment trust's stock worth $1,468,000 after acquiring an additional 54,661 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Apple Hospitality REIT by 20.9% during the 4th quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock worth $6,019,000 after acquiring an additional 67,896 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Apple Hospitality REIT by 24.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust's stock worth $6,214,000 after acquiring an additional 95,606 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Apple Hospitality REIT by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock worth $14,350,000 after acquiring an additional 28,778 shares in the last quarter. Institutional investors own 89.66% of the company's stock.

Apple Hospitality REIT Trading Down 1.4%

APLE traded down $0.18 during trading on Tuesday, hitting $12.39. The company's stock had a trading volume of 3,294,611 shares, compared to its average volume of 2,406,931. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The stock's fifty day moving average price is $11.79 and its 200-day moving average price is $13.13. The firm has a market capitalization of $2.95 billion, a P/E ratio of 15.68 and a beta of 1.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its 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. The company had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.96 annualized dividend and a yield of 7.75%. Apple Hospitality REIT's payout ratio is currently 121.52%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight purchased 10,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the purchase, the chairman directly owned 700,344 shares in the company, valued at approximately $8,004,931.92. This trade represents a 1.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 12,000 shares of company stock valued at $137,120 in the last ninety days. Insiders own 7.10% of the company's stock.

Analyst Ratings Changes

Separately, BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $14.00 to $12.00 in a research note on Monday, June 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.75.

Apple Hospitality REIT 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.