Ethic Inc. Purchases New Shares in Apple Hospitality REIT, Inc. $APLE

Ethic Inc. acquired a new stake in Apple Hospitality REIT, Inc. (NYSE:APLE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,980 shares of the real estate investment trust’s stock, valued at approximately $130,000.

Several other large investors also recently made changes to their positions in APLE. NewEdge Advisors LLC increased its stake in shares of Apple Hospitality REIT by 295.9% in 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 in the last quarter. Kestra Investment Management LLC acquired a new stake in Apple Hospitality REIT in the 1st quarter valued at about $57,000. Security National Bank bought a new position in shares of Apple Hospitality REIT in the second quarter worth about $60,000. Quarry LP lifted its position in shares of Apple Hospitality REIT by 64.8% during the first quarter. Quarry LP now owns 5,137 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 2,019 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Apple Hospitality REIT by 37.8% during the second quarter. Fifth Third Bancorp now owns 7,009 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,922 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the acquisition, the chairman owned 705,344 shares in the company, valued at approximately $8,668,677.76. This trade represents a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.

Wall Street Analyst Weigh In

APLE has been the subject of a number of research reports. Cantor Fitzgerald began coverage on shares of Apple Hospitality REIT in a report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price target for the company. Robert W. Baird decreased their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday. Finally, Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Apple Hospitality REIT Trading Down 1.9%

NYSE:APLE opened at $11.19 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT, Inc. has a 1-year low of $10.44 and a 1-year high of $16.50. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 14.91 and a beta of 1.02. The business’s 50-day moving average price is $12.15 and its two-hundred day moving average price is $12.00.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. On average, equities analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 8.6%. Apple Hospitality REIT’s payout ratio is currently 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.