Sound Income Strategies LLC Cuts Position in Apple Hospitality REIT, Inc. $APLE

Sound Income Strategies LLC reduced its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 97.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,801 shares of the real estate investment trust’s stock after selling 1,164,887 shares during the period. Sound Income Strategies LLC’s holdings in Apple Hospitality REIT were worth $319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Signaturefd LLC lifted its stake in shares of Apple Hospitality REIT by 14.9% in the second quarter. Signaturefd LLC now owns 7,058 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 913 shares during the period. PharVision Advisers LLC raised its holdings in Apple Hospitality REIT by 8.0% during the first quarter. PharVision Advisers LLC now owns 14,263 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 1,058 shares during the last quarter. MML Investors Services LLC grew its holdings in Apple Hospitality REIT by 1.4% in the second quarter. MML Investors Services LLC now owns 80,287 shares of the real estate investment trust’s stock valued at $937,000 after purchasing an additional 1,100 shares during the last quarter. Teacher Retirement System of Texas raised its position in Apple Hospitality REIT by 3.4% during the second quarter. Teacher Retirement System of Texas now owns 34,474 shares of the real estate investment trust’s stock worth $402,000 after acquiring an additional 1,143 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Apple Hospitality REIT by 22.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 1,202 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Down 0.5%

Shares of NYSE:APLE opened at $12.17 on Monday. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.01. The stock’s 50-day moving average price is $11.70 and its two-hundred day moving average price is $12.01. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 16.66 and a beta of 0.83.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. The firm had revenue of $373.88 million during the quarter, compared to analyst estimates of $371.94 million. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.08 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Wednesday, December 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 131.51%.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the acquisition, the chairman owned 710,344 shares of the company’s stock, valued at $8,460,197.04. This trade represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders bought 8,000 shares of company stock valued at $95,180. Insiders own 7.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Apple Hospitality REIT in a report on Thursday, October 30th. Cantor Fitzgerald began coverage on Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 price objective on the stock. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research note on Tuesday, November 4th. Finally, Robert W. Baird decreased their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $12.70.

About Apple Hospitality REIT

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.