Dimensional Fund Advisors LP Trims Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Posted by on May 30th, 2023

Dimensional Fund Advisors LP reduced its stake in Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,076,166 shares of the real estate investment trust’s stock after selling 27,130 shares during the quarter. Dimensional Fund Advisors LP owned about 1.34% of Apple Hospitality REIT worth $48,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in APLE. Raymond James & Associates increased its stake in Apple Hospitality REIT by 11.8% in the first quarter. Raymond James & Associates now owns 99,450 shares of the real estate investment trust’s stock valued at $1,787,000 after purchasing an additional 10,534 shares during the last quarter. US Bancorp DE increased its stake in 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 purchasing an additional 3,043 shares during the last quarter. HighTower Advisors LLC acquired a new position in Apple Hospitality REIT in the first quarter valued at $366,000. Acadian Asset Management LLC acquired a new position in Apple Hospitality REIT in the first quarter valued at $25,000. Finally, MetLife Investment Management LLC increased its stake in Apple Hospitality REIT by 55.0% in the first quarter. MetLife Investment Management LLC now owns 113,977 shares of the real estate investment trust’s stock valued at $2,048,000 after purchasing an additional 40,438 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on APLE shares. Compass Point lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $17.00 in a research note on Wednesday, March 22nd. B. Riley dropped their price target on Apple Hospitality REIT from $20.00 to $19.00 in a research note on Monday, May 8th. Wells Fargo & Company upgraded Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $18.00 to $17.00 in a research note on Thursday, March 30th. Finally, StockNews.com assumed coverage on Apple Hospitality REIT in a research note on Thursday, May 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Friday, May 5th. The stock was purchased at an average price of $15.50 per share, with a total value of $77,500.00. Following the completion of the acquisition, the chairman now owns 568,109 shares of the company’s stock, valued at approximately $8,805,689.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.00% of the company’s stock.

Apple Hospitality REIT Price Performance

APLE stock opened at $14.51 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.98 and a current ratio of 0.98. Apple Hospitality REIT, Inc. has a 1 year low of $13.66 and a 1 year high of $18.22. The firm has a market cap of $3.32 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.54 and a beta of 1.17. The stock has a 50-day simple moving average of $15.12 and a 200-day simple moving average of $16.04.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.62%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 137.14%.

Apple Hospitality REIT Profile

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Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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