abrdn plc Trims Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

abrdn plc lessened its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 7.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 41,888 shares of the real estate investment trust’s stock after selling 3,276 shares during the quarter. abrdn plc’s holdings in Apple Hospitality REIT were worth $696,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of APLE. Public Sector Pension Investment Board purchased a new stake in Apple Hospitality REIT in the third quarter worth $4,034,000. Vanguard Group Inc. increased its stake in Apple Hospitality REIT by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock worth $542,574,000 after buying an additional 2,476,241 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in Apple Hospitality REIT by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 310,624 shares of the real estate investment trust’s stock valued at $5,159,000 after buying an additional 150,965 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Apple Hospitality REIT by 8.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 250,566 shares of the real estate investment trust’s stock worth $4,162,000 after acquiring an additional 19,309 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Apple Hospitality REIT by 17.5% during the third quarter. Ameriprise Financial Inc. now owns 3,375,459 shares of the real estate investment trust’s stock worth $51,746,000 after acquiring an additional 502,472 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 0.5 %

APLE opened at $15.08 on Tuesday. Apple Hospitality REIT, Inc. has a 12 month low of $14.22 and a 12 month high of $17.90. The stock has a fifty day moving average price of $16.07 and a 200-day moving average price of $16.27. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 19.33 and a beta of 1.08. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45.

Apple Hospitality REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio is currently 123.08%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $19.00 to $18.00 in a research note on Monday, January 8th. StockNews.com cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.40.

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.