Apple Hospitality REIT, Inc. $APLE Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 32.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,371 shares of the real estate investment trust’s stock after purchasing an additional 120,403 shares during the period. Hsbc Holdings PLC’s holdings in Apple Hospitality REIT were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in APLE. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Apple Hospitality REIT by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after purchasing an additional 1,068 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its stake in Apple Hospitality REIT by 5.9% during the first quarter. Resona Asset Management Co. Ltd. now owns 97,456 shares of the real estate investment trust’s stock valued at $1,122,000 after purchasing an additional 5,423 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in Apple Hospitality REIT during the first quarter worth approximately $133,000. Abel Hall LLC bought a new stake in Apple Hospitality REIT during the first quarter worth approximately $139,000. Finally, DGS Capital Management LLC boosted its holdings in Apple Hospitality REIT by 10.4% during the first quarter. DGS Capital Management LLC now owns 20,256 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 1,913 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $13.96 per share, with a total value of $69,800.00. Following the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.90% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $16.62 on Friday. The company has a 50-day moving average of $15.94 and a two-hundred day moving average of $13.63. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 3.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Apple Hospitality REIT, Inc. has a one year low of $10.85 and a one year high of $17.13.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, equities research analysts expect that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 31st will be given a dividend of $0.08 per share. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date is Friday, July 31st. Apple Hospitality REIT’s payout ratio is presently 131.51%.

Analysts Set New Price Targets

APLE has been the topic of several research reports. Wells Fargo & Company upped their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday. LADENBURG THALM/SH SH raised their price objective on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Cantor Fitzgerald lifted their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings raised Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.00.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.