Hsbc Holdings PLC Purchases 61,354 Shares of Apple Hospitality REIT, Inc. $APLE

Key Points

• Hsbc Holdings PLC increased its stake in Apple Hospitality REIT by 19.6% in the fourth quarter, buying 61,354 additional shares and bringing its total holding to 374,968 shares worth about $4.44 million.
• Apple Hospitality REIT reported better-than-expected quarterly results, with EPS of $0.12 versus the $0.11 consensus and revenue of $337.74 million versus estimates of $327.81 million.
• The company announced a monthly dividend of $0.08 per share, payable July 15, implying a 5.6% annualized yield; however, its dividend payout ratio is elevated at 131.51%.

Hsbc Holdings PLC boosted its position 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 firm 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 about 0.16% of Apple Hospitality REIT worth $4,443,000 as of its most recent filing with the Securities & Exchange Commission.

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

Apple Hospitality REIT Trading Up 0.5%

NYSE:APLE opened at $17.02 on Friday. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 8.32 and a beta of 0.89. Apple Hospitality REIT, Inc. has a 52 week low of $10.85 and a 52 week high of $17.06. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $14.73 and a 200 day moving average of $13.00.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released 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 analyst estimates of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.58 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.6%. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 131.51%.

Analysts Set New Price Targets

Several research firms have recently commented on APLE. Wells Fargo & Company boosted their price target on shares of Apple Hospitality REIT from $12.00 to $15.00 and gave the company an "equal weight" rating in a report on Monday, June 1st. BMO Capital Markets lifted their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company a "market perform" rating in a report on Friday, June 12th. Cantor Fitzgerald upped their target price on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. started coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They set a "neutral" rating and a $15.00 target price on the stock. Finally, LADENBURG THALM/SH SH lifted their price target on Apple Hospitality REIT from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.94.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the purchase, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This represents a 0.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

About Apple Hospitality REIT

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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