Inlet Private Wealth LLC Decreases Stake in Apple Hospitality REIT, Inc. $APLE

Inlet Private Wealth LLC lowered its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 93.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,200 shares of the real estate investment trust’s stock after selling 187,050 shares during the quarter. Inlet Private Wealth LLC’s holdings in Apple Hospitality REIT were worth $156,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 1,814 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares during the period. Cloud Capital Management LLC bought a new position in Apple Hospitality REIT in the 3rd quarter worth about $34,000. Danske Bank A S bought a new position in Apple Hospitality REIT in the 3rd quarter worth about $36,000. Finally, Smartleaf Asset Management LLC boosted its stake in Apple Hospitality REIT by 97.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,872 shares during the period. Institutional investors own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APLE shares. Barclays started coverage on Apple Hospitality REIT in a research note on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 target price on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Wells Fargo & Company cut their target price on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Finally, LADENBURG THALM/SH SH started coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and an average target price of $12.79.

Apple Hospitality REIT Stock Up 0.6%

Shares of NYSE APLE opened at $11.60 on Tuesday. Apple Hospitality REIT, Inc. has a 12 month low of $10.44 and a 12 month high of $13.27. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 15.67 and a beta of 0.82. The business has a 50-day moving average of $11.99 and a 200-day moving average of $11.92.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The business had revenue of $326.44 million for the quarter, compared to analysts’ expectations of $322.60 million. Sell-side analysts expect 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 announced a monthly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.08 dividend. The ex-dividend date is Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 8.3%. Apple Hospitality REIT’s payout ratio is presently 129.73%.

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.