Allspring Global Investments Holdings LLC Reduces Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Allspring Global Investments Holdings LLC reduced its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,782 shares of the real estate investment trust’s stock after selling 2,548 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Apple Hospitality REIT were worth $531,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Apple Hospitality REIT by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after purchasing an additional 1,217,142 shares during the last quarter. Masterton Capital Management LP purchased a new stake in Apple Hospitality REIT during the 2nd quarter worth approximately $3,378,000. Foundry Partners LLC increased its holdings in Apple Hospitality REIT by 11.3% during the 1st quarter. Foundry Partners LLC now owns 347,717 shares of the real estate investment trust’s stock worth $5,696,000 after purchasing an additional 35,166 shares during the last quarter. Entropy Technologies LP purchased a new stake in Apple Hospitality REIT during the 1st quarter worth approximately $338,000. Finally, Dimensional Fund Advisors LP increased its holdings in Apple Hospitality REIT by 4.8% during 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 purchasing an additional 154,159 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Thursday, August 8th. The stock was acquired 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 directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APLE. Oppenheimer reiterated an “outperform” rating and issued a $17.00 target price on shares of Apple Hospitality REIT in a research report on Friday, October 4th. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company reduced their price objective 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 investment 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, the stock currently has an average rating of “Hold” and an average target price of $16.25.

Apple Hospitality REIT Trading Down 0.5 %

NYSE:APLE opened at $14.69 on Friday. Apple Hospitality REIT, Inc. has a 1 year low of $13.60 and a 1 year high of $17.90. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 16.69 and a beta of 1.12. The business has a fifty day moving average of $14.74 and a 200-day moving average of $14.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same quarter last year, the company earned $0.49 EPS. Equities analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend 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 109.09%.

Apple Hospitality REIT Company 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.