Envestnet Asset Management Inc. Purchases 15,033 Shares of Apple Hospitality REIT, Inc. $APLE

Envestnet Asset Management Inc. boosted its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 25.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 74,096 shares of the real estate investment trust’s stock after purchasing an additional 15,033 shares during the period. Envestnet Asset Management Inc.’s holdings in Apple Hospitality REIT were worth $865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in APLE. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Apple Hospitality REIT by 1.3% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the real estate investment trust’s stock worth $2,849,000 after acquiring an additional 3,048 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Apple Hospitality REIT by 444.4% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 2,280 shares during the last quarter. Ethic Inc. acquired a new position in Apple Hospitality REIT during the second quarter valued at approximately $130,000. Aurora Investment Counsel lifted its stake in Apple Hospitality REIT by 36.1% during the second quarter. Aurora Investment Counsel now owns 135,520 shares of the real estate investment trust’s stock worth $1,582,000 after purchasing an additional 35,950 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at $4,785,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APLE has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday, October 30th. Wells Fargo & Company upgraded Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Cantor Fitzgerald assumed coverage on Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $14.00 target price for the company. Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target on the stock. 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 report on Friday, October 3rd. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.70.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $11.75 on Friday. 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 stock has a market cap of $2.78 billion, a PE ratio of 15.67 and a beta of 1.04. Apple Hospitality REIT, Inc. has a 12-month low of $10.44 and a 12-month high of $16.50. The business has a 50-day simple moving average of $11.76 and a two-hundred day simple moving average of $11.98.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.08 dividend. This represents a c) annualized dividend and a yield of 8.2%. The ex-dividend date is Friday, November 28th. Apple Hospitality REIT’s dividend payout ratio is 131.51%.

Apple Hospitality REIT Company 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.