Avantax Advisory Services Inc. Invests $679,000 in Apple Hospitality REIT, Inc. (NYSE:APLE)

Avantax Advisory Services Inc. purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 44,217 shares of the real estate investment trust's stock, valued at approximately $679,000.

Other large investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Apple Hospitality REIT by 45.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 18,970 shares of the real estate investment trust's stock worth $282,000 after buying an additional 5,920 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in Apple Hospitality REIT by 3.3% in the third quarter. Segall Bryant & Hamill LLC now owns 380,163 shares of the real estate investment trust's stock worth $5,645,000 after purchasing an additional 12,089 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Apple Hospitality REIT during the 3rd quarter valued at about $611,000. Intech Investment Management LLC purchased a new stake in shares of Apple Hospitality REIT during the 3rd quarter valued at about $887,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Apple Hospitality REIT by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust's stock worth $66,187,000 after purchasing an additional 182,917 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APLE has been the subject of several recent research reports. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They set an "outperform" rating and a $18.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Finally, Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.80.

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Apple Hospitality REIT Price Performance

NYSE:APLE traded down $0.16 during trading hours on Tuesday, hitting $13.22. 2,060,974 shares of the stock traded hands, compared to its average volume of 1,944,984. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 15.55 and a beta of 1.12. Apple Hospitality REIT, Inc. has a 1 year low of $13.01 and a 1 year high of $16.60. The stock has a 50 day moving average price of $14.77 and a 200 day moving average price of $15.10. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The company had revenue of $333.04 million for the quarter, compared to analysts' expectations of $330.11 million. Sell-side analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date of this dividend is Monday, March 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 109.09%.

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.