Apple Hospitality REIT, Inc. $APLE Position Increased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Apple Hospitality REIT by 32.1% in Q1, ending with 495,371 shares valued at about $5.7 million. Institutional ownership remains very high, with hedge funds and other investors holding most of the stock.
• Apple Hospitality REIT reported better-than-expected quarterly results, posting EPS of $0.12 versus the $0.11 estimate and revenue of $337.74 million versus $327.81 million expected. Analysts currently have a consensus Hold rating with a $16.00 price target.
• The company announced a monthly dividend of $0.08 per share, payable August 17 to shareholders of record on July 31, implying a 5.8% annualized yield. Chairman Glade M. Knight also bought 5,000 shares, signaling insider confidence.

Hsbc Holdings PLC boosted its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 32.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 495,371 shares of the real estate investment trust's stock after purchasing an additional 120,403 shares during the quarter. Hsbc Holdings PLC owned approximately 0.21% of Apple Hospitality REIT worth $5,703,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in APLE. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Apple Hospitality REIT by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust's stock worth $2,764,000 after acquiring an additional 1,068 shares during the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Apple Hospitality REIT by 5.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 97,456 shares of the real estate investment trust's stock worth $1,122,000 after acquiring an additional 5,423 shares during the period. Sage Rhino Capital LLC bought a new stake in Apple Hospitality REIT in the 1st quarter valued at about $133,000. Abel Hall LLC acquired a new position in Apple Hospitality REIT during the 1st quarter valued at about $139,000. Finally, DGS Capital Management LLC boosted its stake in Apple Hospitality REIT by 10.4% during the 1st quarter. DGS Capital Management LLC now owns 20,256 shares of the real estate investment trust's stock valued at $233,000 after purchasing an additional 1,913 shares during the period. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Down 2.0%

Apple Hospitality REIT stock opened at $16.62 on Friday. 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 current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $15.94 and its two-hundred day moving average price is $13.63. Apple Hospitality REIT, Inc. has a 52 week low of $10.85 and a 52 week high of $17.13.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The company had revenue of $337.74 million during 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, analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on APLE. Cantor Fitzgerald raised their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Tuesday. BMO Capital Markets raised their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a research report on Friday, June 12th. Finally, Bank of America lifted their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.00.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight purchased 5,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $13.96 per share, with a total value of $69,800.00. Following the purchase, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.

Apple Hospitality REIT Company 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.

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