Hsbc Holdings PLC Acquires 98,343 Shares of Apple Hospitality REIT, Inc. $APLE

Key Points

• Hsbc Holdings PLC increased its stake in Apple Hospitality REIT by 56% in Q1, acquiring an additional 98,343 shares, bringing its total holdings to 274,032 shares.
• Apple Hospitality REIT declared a dividend of $0.08 per share, with a yield of 780.0%, set to be paid on September 15th.
• BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" to a "market perform" rating, lowering its price target from $14.00 to $12.00.

Hsbc Holdings PLC increased its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 56.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,032 shares of the real estate investment trust's stock after acquiring an additional 98,343 shares during the period. Hsbc Holdings PLC owned about 0.12% of Apple Hospitality REIT worth $3,526,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of APLE. Versant Capital Management Inc lifted its holdings in Apple Hospitality REIT by 569.5% during the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust's stock worth $36,000 after buying an additional 2,386 shares in the last quarter. Quarry LP lifted its holdings in Apple Hospitality REIT by 128.1% during the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,751 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Apple Hospitality REIT during the 4th quarter worth $64,000. Blue Trust Inc. lifted its holdings in Apple Hospitality REIT by 16.9% during the 1st quarter. Blue Trust Inc. now owns 9,934 shares of the real estate investment trust's stock worth $128,000 after buying an additional 1,438 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Apple Hospitality REIT during the 1st quarter worth $137,000. Institutional investors and hedge funds own 89.66% of the company's stock.

Apple Hospitality REIT Stock Performance

APLE stock opened at $12.73 on Wednesday. The business's fifty day moving average is $12.12 and its 200-day moving average is $12.49. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The company has a market cap of $3.02 billion, a P/E ratio of 16.97 and a beta of 1.08. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting analysts' consensus estimates of $0.47. The company had revenue of $384.37 million for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a aug 25 dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 780.0%. Apple Hospitality REIT's dividend payout ratio is 128.00%.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the transaction, the chairman directly owned 705,344 shares in the company, valued at approximately $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 7.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $14.00 to $12.00 in a report on Monday, June 9th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Apple Hospitality REIT presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.75.

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.

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