Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Acquired by abrdn plc

abrdn plc increased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 14.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,286 shares of the real estate investment trust’s stock after buying an additional 6,107 shares during the period. abrdn plc’s holdings in Apple Hospitality REIT were worth $717,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in APLE. GAMMA Investing LLC lifted its holdings in shares of Apple Hospitality REIT by 40.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 780 shares during the period. Amalgamated Bank grew its position in Apple Hospitality REIT by 1.2% in the second quarter. Amalgamated Bank now owns 68,525 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 813 shares in the last quarter. Ellis Investment Partners LLC boosted its stake in shares of Apple Hospitality REIT by 4.6% during the 3rd quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock valued at $318,000 after buying an additional 948 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of Apple Hospitality REIT by 8.2% during the 3rd quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 1,008 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Apple Hospitality REIT by 1.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock valued at $986,000 after buying an additional 1,050 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Trading Up 0.3 %

Shares of NYSE APLE opened at $14.73 on Tuesday. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $17.90. The firm has a market capitalization of $3.57 billion, a PE ratio of 16.74 and a beta of 1.11. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $14.74 and a two-hundred day moving average price of $14.62.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. The firm had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. As a group, analysts predict 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 Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

APLE has been the topic of several research analyst reports. StockNews.com cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Wells Fargo & Company cut their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.25.

Insider Activity

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired 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 represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.80% of the stock is currently owned by company insiders.

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.