Covestor Ltd Sells 1,397 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Covestor Ltd lowered its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 14.1% during the first quarter, HoldingsChannel.com reports. The fund owned 8,489 shares of the real estate investment trust’s stock after selling 1,397 shares during the quarter. Covestor Ltd’s holdings in Apple Hospitality REIT were worth $110,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Summit Investment Advisors Inc. boosted its position in shares of Apple Hospitality REIT by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust’s stock worth $366,000 after purchasing an additional 755 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of Apple Hospitality REIT by 0.5% during the 1st quarter. Isthmus Partners LLC now owns 200,823 shares of the real estate investment trust’s stock worth $2,593,000 after purchasing an additional 919 shares in the last quarter. Xponance Inc. boosted its position in shares of Apple Hospitality REIT by 6.4% during the 1st quarter. Xponance Inc. now owns 17,385 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 1,044 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Apple Hospitality REIT by 6.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 18,970 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 1,100 shares in the last quarter. Finally, PFG Investments LLC boosted its position in shares of Apple Hospitality REIT by 9.2% during the 1st quarter. PFG Investments LLC now owns 13,216 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 0.6%

APLE opened at $11.79 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.44 and a fifty-two week high of $16.50. The firm has a market capitalization of $2.79 billion, a PE ratio of 15.72 and a beta of 1.08. The company’s 50-day moving average is $11.94 and its 200 day moving average is $12.70.

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 for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $384.37 million for the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a jul 25 dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a $0.08 dividend. The ex-dividend date is Thursday, July 31st. This represents a yield of 770.0%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 128.00%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $14.00 to $12.00 in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and an average price target 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.