Apple Hospitality REIT, Inc. (NYSE:APLE) Position Boosted by abrdn plc

abrdn plc increased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 48.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,742 shares of the real estate investment trust’s stock after purchasing an additional 23,456 shares during the quarter. abrdn plc’s holdings in Apple Hospitality REIT were worth $1,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in APLE. GAMMA Investing LLC increased its holdings in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 780 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Apple Hospitality REIT by 6.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 16,212 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 921 shares during the last quarter. Ellis Investment Partners LLC raised its position in shares of Apple Hospitality REIT by 4.6% during the third quarter. Ellis Investment Partners LLC now owns 21,383 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 948 shares during the period. Inspire Advisors LLC lifted its holdings in shares of Apple Hospitality REIT by 8.2% during the third quarter. Inspire Advisors LLC now owns 13,365 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Apple Hospitality REIT by 0.7% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 169,222 shares of the real estate investment trust’s stock valued at $2,513,000 after purchasing an additional 1,105 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $15.24 on Tuesday. The stock’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $15.08. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $16.99. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 17.92 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 31st will be given a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a yield of 6.30%. Apple Hospitality REIT’s payout ratio is 112.94%.

Wall Street Analysts Forecast Growth

APLE has been the topic of a number of recent analyst reports. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

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.