Apple Hospitality REIT, Inc. $APLE Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Apple Hospitality REIT by 19.6% in the fourth quarter, buying 61,354 more shares and ending with 374,968 shares valued at about $4.44 million.
• 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 above forecasts.
• The company declared a monthly dividend of $0.08 per share, implying an annualized yield of 5.9%, while analysts currently rate the stock a consensus Hold with a $14.94 price target.

Hsbc Holdings PLC boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 374,968 shares of the real estate investment trust's stock after purchasing an additional 61,354 shares during the quarter. Hsbc Holdings PLC owned approximately 0.16% of Apple Hospitality REIT worth $4,443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after acquiring an additional 1,814 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Apple Hospitality REIT by 1,375.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 2,640 shares in the last quarter. Danske Bank A S acquired a new position in Apple Hospitality REIT during the 3rd quarter worth $36,000. Godfrey Financial Associates Inc. bought a new stake in shares of Apple Hospitality REIT in the 4th quarter worth about $43,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Apple Hospitality REIT by 97.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 1,872 shares during the last quarter. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 1.8%

NYSE:APLE opened at $16.36 on Friday. 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 stock has a 50 day moving average of $15.35 and a 200-day moving average of $13.30. The firm has a market capitalization of $3.86 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 7.85 and a beta of 0.87. Apple Hospitality REIT, Inc. has a 52 week low of $10.85 and a 52 week high of $17.06.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. Analysts predict that Apple Hospitality REIT, Inc. will post 1.58 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.08 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Tuesday, June 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 131.51%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on APLE shares. JPMorgan Chase & Co. initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, June 1st. They set a "neutral" rating and a $15.00 price target on the stock. Wells Fargo & Company boosted their price objective on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. Cantor Fitzgerald upped their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Barclays increased their target price on Apple Hospitality REIT from $13.00 to $16.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Finally, Weiss Ratings upgraded Apple Hospitality REIT from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.94.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the acquisition, the chairman owned 747,191 shares in the company, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.90% of the company's stock.

Apple Hospitality REIT 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.

Want to see what other hedge funds are holding APLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.