Truist Financial Corp Boosts Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Truist Financial Corp boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,165 shares of the real estate investment trust’s stock after purchasing an additional 5,856 shares during the period. Truist Financial Corp’s holdings in Apple Hospitality REIT were worth $1,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. EdgeRock Capital LLC purchased a new position in shares of Apple Hospitality REIT during the 2nd quarter valued at $26,000. Quarry LP lifted its position in shares of Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,290 shares during the last quarter. Fortis Group Advisors LLC lifted its position in shares of Apple Hospitality REIT by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,986 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,493 shares during the last quarter. Covestor Ltd lifted its position in shares of Apple Hospitality REIT by 115.6% during the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 2,313 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Apple Hospitality REIT by 4,406.5% during the 2nd quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 5,420 shares during the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective 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. Oppenheimer reiterated an “outperform” rating and set a $17.00 price objective on shares of Apple Hospitality REIT in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Apple Hospitality REIT currently has an average rating of “Hold” and an average price target of $16.25.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is owned by insiders.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $15.19 on Monday. The business’s fifty day simple moving average is $14.48 and its 200-day simple moving average is $14.72. The company has a market cap of $3.68 billion, a PE ratio of 17.66 and a beta of 1.12. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last released its 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 during the quarter, compared to analyst estimates of $388.82 million. During the same period in the previous year, the company earned $0.49 earnings per share. Analysts expect that Apple Hospitality REIT, Inc. will post 1.61 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, September 30th. Apple Hospitality REIT’s payout ratio is 111.63%.

Apple Hospitality REIT 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.