Truist Financial Corp lessened its stake in Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) by 19.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,841 shares of the real estate investment trust’s stock after selling 19,823 shares during the quarter. Truist Financial Corp’s holdings in Apple Hospitality REIT were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APLE. Raymond James & Associates increased its holdings in Apple Hospitality REIT by 11.8% during the first quarter. Raymond James & Associates now owns 99,450 shares of the real estate investment trust’s stock worth $1,787,000 after buying an additional 10,534 shares during the last quarter. US Bancorp DE boosted its position in shares of Apple Hospitality REIT by 67.6% in the first quarter. US Bancorp DE now owns 7,542 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 3,043 shares during the period. HighTower Advisors LLC bought a new stake in shares of Apple Hospitality REIT in the first quarter valued at about $366,000. Acadian Asset Management LLC bought a new stake in Apple Hospitality REIT during the first quarter worth about $25,000. Finally, MetLife Investment Management LLC lifted its position in Apple Hospitality REIT by 55.0% during the first quarter. MetLife Investment Management LLC now owns 113,977 shares of the real estate investment trust’s stock worth $2,048,000 after purchasing an additional 40,438 shares during the period. Institutional investors and hedge funds own 80.53% of the company’s stock.
Insider Buying and Selling
In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $15.07 per share, with a total value of $75,350.00. Following the acquisition, the chairman now owns 573,109 shares in the company, valued at approximately $8,636,752.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.00% of the stock is currently owned by insiders.
Apple Hospitality REIT Trading Up 1.2 %
Apple Hospitality REIT Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be issued a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Monday, October 30th. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 137.14%.
Analysts Set New Price Targets
APLE has been the subject of several research analyst reports. Wolfe Research began coverage on Apple Hospitality REIT in a research note on Wednesday, September 27th. They set a “peer perform” rating for the company. Oppenheimer cut their target price on Apple Hospitality REIT from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, August 7th. StockNews.com cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Saturday. B. Riley dropped their price objective on Apple Hospitality REIT from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Finally, Wells Fargo & Company raised their price objective on Apple Hospitality REIT from $17.00 to $18.00 in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $18.20.
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 220 hotels with more than 28,900 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.
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