Apple Hospitality REIT, Inc. $APLE Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 52.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,149 shares of the real estate investment trust’s stock after purchasing an additional 2,461 shares during the quarter. GAMMA Investing LLC’s holdings in Apple Hospitality REIT were worth $83,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in APLE. Wealth Enhancement Advisory Services LLC acquired a new position in Apple Hospitality REIT during the 4th quarter valued at about $255,000. Versant Capital Management Inc raised its holdings in shares of Apple Hospitality REIT by 569.5% during the first quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 2,386 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Apple Hospitality REIT by 20.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 184,016 shares of the real estate investment trust’s stock worth $2,376,000 after purchasing an additional 30,719 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Apple Hospitality REIT by 12.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust’s stock valued at $13,127,000 after purchasing an additional 108,833 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in Apple Hospitality REIT by 3.1% during the first quarter. QRG Capital Management Inc. now owns 162,231 shares of the real estate investment trust’s stock valued at $2,094,000 after buying an additional 4,834 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APLE. Cantor Fitzgerald started coverage on shares of Apple Hospitality REIT in a report on Wednesday. They issued an “overweight” rating and a $14.00 target price on the stock. Wells Fargo & Company lifted their price objective on Apple Hospitality REIT from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 27th. Finally, BMO Capital Markets lowered Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT currently has an average rating of “Moderate Buy” and an average price target of $14.80.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $12.29 per share, with a total value of $61,450.00. Following the acquisition, the chairman directly owned 705,344 shares of the company’s stock, valued at $8,668,677.76. This represents a 0.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.10% of the stock is owned by company insiders.

Apple Hospitality REIT Trading Up 0.2%

Shares of APLE opened at $12.10 on Friday. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 16.13 and a beta of 1.02. The stock’s 50-day moving average price is $12.38 and its 200 day moving average price is $12.12.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $384.37 million for the quarter, compared to analysts’ expectations of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a oct 25 dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.08 dividend. This represents a yield of 799.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Apple Hospitality REIT’s payout ratio is 128.00%.

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.