Allspring Global Investments Holdings LLC Has $531,000 Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Allspring Global Investments Holdings LLC decreased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 6.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 35,782 shares of the real estate investment trust’s stock after selling 2,548 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Apple Hospitality REIT were worth $531,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in APLE. Vanguard Group Inc. grew its holdings in Apple Hospitality REIT by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock valued at $582,400,000 after buying an additional 1,217,142 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Apple Hospitality REIT by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,398,673 shares of the real estate investment trust’s stock worth $121,192,000 after acquiring an additional 253,082 shares during the period. Victory Capital Management Inc. lifted its position in shares of Apple Hospitality REIT by 17.2% in the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after acquiring an additional 881,217 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Apple Hospitality REIT by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after acquiring an additional 154,159 shares during the period. Finally, LSV Asset Management lifted its position in shares of Apple Hospitality REIT by 2.1% in the 2nd quarter. LSV Asset Management now owns 2,572,043 shares of the real estate investment trust’s stock worth $37,398,000 after acquiring an additional 53,300 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Down 0.5 %

APLE stock opened at $14.69 on Friday. The business has a fifty day moving average price of $14.74 and a 200 day moving average price of $14.64. Apple Hospitality REIT, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 16.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. During the same period in the prior year, the business earned $0.49 earnings per share. Analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.54%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 109.09%.

Insider Activity

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $14.04 per share, with a total value of $70,200.00. Following the purchase, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 6.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on APLE. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Oppenheimer restated an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a research report on Friday, October 4th. Finally, Wells Fargo & Company cut their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and an average 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.