Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 27.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,637 shares of the real estate investment trust’s stock after purchasing an additional 41,583 shares during the quarter. Hsbc Holdings PLC’s holdings in Apple Hospitality REIT were worth $2,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of APLE. Amalgamated Bank raised its stake in shares of Apple Hospitality REIT by 1.2% in the 2nd 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 during the period. Edgestream Partners L.P. raised its position in Apple Hospitality REIT by 400.8% in the second quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after purchasing an additional 511,100 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Apple Hospitality REIT by 4.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,375,016 shares of the real estate investment trust’s stock worth $49,072,000 after purchasing an additional 154,159 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Apple Hospitality REIT in the second quarter worth about $563,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Apple Hospitality REIT in the second quarter valued at about $1,437,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Trading Down 1.7 %

APLE opened at $14.99 on Thursday. The stock has a market capitalization of $3.63 billion, a PE ratio of 17.42 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, Inc. has a 12-month low of $13.60 and a 12-month high of $17.90. The firm’s fifty day moving average price is $14.45 and its 200 day moving average price is $14.86.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The company had revenue of $390.08 million for the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same period in the previous year, the business posted $0.49 EPS. As a group, research analysts expect that Apple Hospitality REIT, Inc. will post 1.61 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company 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. This represents a $0.96 annualized dividend and a dividend yield of 6.41%. The ex-dividend date is Monday, September 30th. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APLE. Wedbush assumed coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price target for the company. Wells Fargo & Company lowered their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Oppenheimer cut their price objective on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.25.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’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 completion of the acquisition, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by company insiders.

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.