Sequoia Financial Advisors LLC Makes New $702,000 Investment in Apple Hospitality REIT, Inc. $APLE

Key Points

• Sequoia Financial Advisors initiated a new position in Apple Hospitality REIT, buying 60,975 shares worth about $702,000 in the first quarter.
• Insider activity also included Chairman Glade M. Knight purchasing 5,000 shares at $13.96 each, increasing his holdings slightly; insiders now own 6.90% of the company.
• Apple Hospitality REIT reported better-than-expected quarterly earnings of $0.12 per share and revenue of $337.74 million, while also paying a monthly dividend that annualizes to a 5.7% yield.

Sequoia Financial Advisors LLC acquired a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 60,975 shares of the real estate investment trust's stock, valued at approximately $702,000.

A number of other hedge funds have also added to or reduced their stakes in APLE. NewEdge Advisors LLC increased its stake in shares of Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 1,814 shares during the period. EverSource Wealth Advisors LLC grew its position in Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 2,640 shares during the last quarter. Danske Bank A S acquired a new position in shares of Apple Hospitality REIT in the third quarter valued at about $36,000. Godfrey Financial Associates Inc. purchased a new position in shares of Apple Hospitality REIT during the fourth quarter worth $43,000. Finally, Inspire Investing LLC raised its position in Apple Hospitality REIT by 2,965.1% during the first quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust's stock valued at $44,000 after acquiring an additional 3,736 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight bought 5,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the acquisition, the chairman owned 747,191 shares of the company's stock, valued at approximately $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 6.90% of the company's stock.

Apple Hospitality REIT Stock Down 0.0%

Shares of NYSE:APLE opened at $16.84 on Monday. The business has a 50-day moving average price of $15.70 and a 200 day moving average price of $13.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 8.22 and a beta of 0.87. Apple Hospitality REIT, Inc. has a 12-month low of $10.85 and a 12-month high of $17.06.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million for the quarter, compared to analysts' expectations of $327.81 million. Sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 131.51%.

Analyst Upgrades and Downgrades

Several analysts have commented on APLE shares. JPMorgan Chase & Co. began coverage on Apple Hospitality REIT in a report on Monday, June 1st. They issued a "neutral" rating and a $15.00 price objective on the stock. Cantor Fitzgerald lifted their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. LADENBURG THALM/SH SH upped their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, June 18th. BMO Capital Markets raised their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a "market perform" rating in a research report on Friday, June 12th. Finally, Barclays lifted their target price on shares of Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $14.94.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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