Sound Income Strategies LLC Buys 89,382 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Sound Income Strategies LLC raised its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 907,983 shares of the real estate investment trust's stock after buying an additional 89,382 shares during the quarter. Sound Income Strategies LLC owned about 0.38% of Apple Hospitality REIT worth $13,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP raised its position in shares of Apple Hospitality REIT by 127.5% during the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 1,290 shares during the period. GAMMA Investing LLC lifted its position in Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 780 shares in the last quarter. Covestor Ltd boosted its stake in Apple Hospitality REIT by 30.0% in the 3rd quarter. Covestor Ltd now owns 7,932 shares of the real estate investment trust's stock worth $118,000 after purchasing an additional 1,831 shares during the period. Blue Trust Inc. lifted its stake in Apple Hospitality REIT by 21.3% in the 3rd quarter. Blue Trust Inc. now owns 11,716 shares of the real estate investment trust's stock valued at $170,000 after acquiring an additional 2,059 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Apple Hospitality REIT by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,262 shares of the real estate investment trust's stock worth $171,000 after purchasing an additional 2,506 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE traded down $0.12 during mid-day trading on Friday, hitting $15.15. 1,204,676 shares of the stock traded hands, compared to its average volume of 1,650,519. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $16.99. The firm has a 50 day simple moving average of $15.55 and a two-hundred day simple moving average of $15.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $3.63 billion, a PE ratio of 17.82 and a beta of 1.13.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. During the same quarter last year, the company posted $0.45 earnings per share. As a group, equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.96 annualized dividend and a yield of 6.34%. Apple Hospitality REIT's payout ratio is 112.94%.

Analysts Set New Price Targets

Several analysts have issued reports on APLE shares. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an "outperform" rating and a $18.00 price target on the stock. StockNews.com upgraded shares of Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Friday, November 22nd. Finally, Oppenheimer reissued an "outperform" rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.50.

About Apple Hospitality REIT

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.