Sound Income Strategies LLC Acquires 105,993 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Sound Income Strategies LLC boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 14.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 818,601 shares of the real estate investment trust's stock after purchasing an additional 105,993 shares during the quarter. Sound Income Strategies LLC owned about 0.34% of Apple Hospitality REIT worth $12,156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in APLE. Watts Gwilliam & Co. LLC acquired a new stake in shares of Apple Hospitality REIT in the third quarter valued at approximately $290,000. GAMMA Investing LLC raised its stake in shares of Apple Hospitality REIT by 40.4% during the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 780 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Apple Hospitality REIT by 62.0% during the third quarter. Handelsbanken Fonder AB now owns 84,418 shares of the real estate investment trust's stock worth $1,254,000 after purchasing an additional 32,300 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Apple Hospitality REIT by 100.1% during the third quarter. SG Americas Securities LLC now owns 16,963 shares of the real estate investment trust's stock worth $252,000 after purchasing an additional 8,485 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Apple Hospitality REIT during the second quarter worth approximately $348,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the purchase, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.80% of the company's stock.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE traded up $0.13 during trading hours on Friday, hitting $15.19. 2,777,101 shares of the company's stock were exchanged, compared to its average volume of 2,101,231. Apple Hospitality REIT, Inc. has a 1-year low of $13.60 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 17.66 and a beta of 1.12. The company's 50-day moving average price is $14.48 and its 200-day moving average price is $14.72.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The company had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same period in the previous year, the company posted $0.49 earnings per share. On average, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, September 30th. This represents a $0.96 dividend on an annualized basis and a yield of 6.32%. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 111.63%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on APLE shares. Wells Fargo & Company cut their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Oppenheimer restated an "outperform" rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.25.

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.