Shell Asset Management Co. Sells 5,125 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Shell Asset Management Co. cut its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLEGet Rating) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,730 shares of the real estate investment trust’s stock after selling 5,125 shares during the period. Shell Asset Management Co.’s holdings in Apple Hospitality REIT were worth $624,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of APLE. abrdn plc boosted its position in shares of Apple Hospitality REIT by 3.2% in the 1st quarter. abrdn plc now owns 47,568 shares of the real estate investment trust’s stock worth $874,000 after purchasing an additional 1,494 shares during the last quarter. Ellis Investment Partners LLC raised its stake in shares of Apple Hospitality REIT by 5.2% in the 1st quarter. Ellis Investment Partners LLC now owns 21,450 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 1,053 shares during the period. Securian Asset Management Inc. acquired a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at about $5,474,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Apple Hospitality REIT by 53.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,386 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Apple Hospitality REIT by 1.1% in the first quarter. Daiwa Securities Group Inc. now owns 63,294 shares of the real estate investment trust’s stock valued at $1,137,000 after acquiring an additional 702 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Stock Down 0.6 %

Shares of NYSE:APLE opened at $16.53 on Tuesday. The company has a fifty day moving average of $15.69 and a 200-day moving average of $16.66. The company has a market capitalization of $3.78 billion, a PE ratio of 44.68 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 0.91. Apple Hospitality REIT, Inc. has a 52-week low of $14.11 and a 52-week high of $18.69.

Apple Hospitality REIT (NYSE:APLEGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Apple Hospitality REIT had a net margin of 8.04% and a return on equity of 2.65%. During the same quarter in the prior year, the firm earned $0.04 earnings per share. On average, equities analysts predict that Apple Hospitality REIT, Inc. will post 1.52 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 15th. Investors of record on Tuesday, August 2nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 1st. This represents a $0.60 annualized dividend and a dividend yield of 3.63%. Apple Hospitality REIT’s dividend payout ratio is 162.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays reduced their price target on Apple Hospitality REIT from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. TheStreet downgraded shares of Apple Hospitality REIT from a “b-” rating to a “c” rating in a research report on Thursday, April 7th. B. Riley upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Thursday, June 16th. Finally, Oppenheimer initiated coverage on shares of Apple Hospitality REIT in a research report on Thursday, April 21st. They issued an “outperform” rating and a $23.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.33.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $16.22 per share, with a total value of $81,100.00. Following the completion of the purchase, the chairman now directly owns 488,093 shares in the company, valued at approximately $7,916,868.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 7,342 shares of company stock valued at $117,451 over the last 90 days. 6.80% of the stock is owned by insiders.

Apple Hospitality REIT Company Profile

(Get Rating)

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 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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