GAMMA Investing LLC Has $7.81 Million Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

GAMMA Investing LLC increased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 1,133.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,522 shares of the real estate investment trust's stock after purchasing an additional 55,617 shares during the quarter. GAMMA Investing LLC's holdings in Apple Hospitality REIT were worth $7,810,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in APLE. abrdn plc grew its holdings in Apple Hospitality REIT by 48.6% during the 4th quarter. abrdn plc now owns 71,742 shares of the real estate investment trust's stock worth $1,107,000 after acquiring an additional 23,456 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Apple Hospitality REIT by 15.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,598 shares of the real estate investment trust's stock valued at $715,000 after purchasing an additional 6,277 shares during the last quarter. Apollon Wealth Management LLC bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $261,000. Empowered Funds LLC acquired a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at approximately $343,000. Finally, Entropy Technologies LP bought a new position in Apple Hospitality REIT in the 4th quarter worth approximately $159,000. Institutional investors own 89.66% of the company's stock.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the acquisition, the chairman now owns 700,344 shares in the company, valued at approximately $8,004,931.92. This trade represents a 1.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders purchased 12,000 shares of company stock worth $137,120. 7.10% of the stock is currently owned by company insiders.

Apple Hospitality REIT Trading Down 0.3%

APLE stock traded down $0.04 during midday trading on Thursday, reaching $11.61. The company's stock had a trading volume of 4,018,180 shares, compared to its average volume of 2,300,842. The business's 50-day simple moving average is $11.70 and its 200-day simple moving average is $13.80. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT, Inc. has a 52 week low of $10.44 and a 52 week high of $16.50. The stock has a market cap of $2.76 billion, a PE ratio of 13.66 and a beta of 1.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $327.70 million for the quarter, compared to analyst estimates of $332.86 million. As a group, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a may 25 dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, May 30th. This represents a dividend yield of 8.3%. Apple Hospitality REIT's payout ratio is currently 121.52%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on APLE shares. BMO Capital Markets lowered Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $14.00 to $12.00 in a research report on Monday. Wells Fargo & Company decreased their price target on 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.75.

About Apple Hospitality REIT

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.