Corebridge Financial Inc. Reduces Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Corebridge Financial Inc. decreased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 7.3% during the fourth quarter, HoldingsChannel reports. The firm owned 121,212 shares of the real estate investment trust’s stock after selling 9,488 shares during the quarter. Corebridge Financial Inc.’s holdings in Apple Hospitality REIT were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Inspire Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 8.5% during the fourth quarter. Inspire Advisors LLC now owns 14,502 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 1,137 shares during the last quarter. Keybank National Association OH lifted its position in shares of Apple Hospitality REIT by 3.1% during the 4th quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust’s stock valued at $617,000 after buying an additional 1,218 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in Apple Hospitality REIT by 4.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 27,079 shares of the real estate investment trust’s stock valued at $416,000 after purchasing an additional 1,272 shares in the last quarter. Xponance Inc. boosted its holdings in Apple Hospitality REIT by 9.5% in the 4th quarter. Xponance Inc. now owns 16,341 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 1,413 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its stake in shares of Apple Hospitality REIT by 14.6% in the third quarter. TD Private Client Wealth LLC now owns 11,727 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 1,490 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

APLE stock opened at $12.92 on Thursday. The company’s 50 day moving average price is $14.48 and its 200 day moving average price is $15.04. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.20 and a beta of 1.12. Apple Hospitality REIT, Inc. has a fifty-two week low of $12.65 and a fifty-two week high of $16.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $333.04 million for the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 109.09%.

Analyst Ratings Changes

Several brokerages recently issued reports on APLE. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price objective for the company. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Monday, January 27th. Finally, Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.80.

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.