Greenwood Capital Associates LLC Sells 1,061 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Greenwood Capital Associates LLC reduced its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.3% in the 4th quarter, HoldingsChannel reports. The firm owned 31,452 shares of the real estate investment trust’s stock after selling 1,061 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Apple Hospitality REIT were worth $483,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. abrdn plc raised its stake in Apple Hospitality REIT by 48.6% during the 4th quarter. abrdn plc now owns 71,742 shares of the real estate investment trust’s stock worth $1,107,000 after buying an additional 23,456 shares during the period. EMC Capital Management increased its holdings in shares of Apple Hospitality REIT by 44,346.3% during the fourth quarter. EMC Capital Management now owns 24,001 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 23,947 shares in the last quarter. United Asset Strategies Inc. raised its position in shares of Apple Hospitality REIT by 12.1% during the fourth quarter. United Asset Strategies Inc. now owns 26,795 shares of the real estate investment trust’s stock worth $411,000 after purchasing an additional 2,885 shares during the period. KBC Group NV lifted its holdings in shares of Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 2,541 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Apple Hospitality REIT by 10.9% in the 4th quarter. Sound Income Strategies LLC now owns 907,983 shares of the real estate investment trust’s stock valued at $13,938,000 after purchasing an additional 89,382 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $15.41 on Wednesday. Apple Hospitality REIT, Inc. has a twelve month low of $13.60 and a twelve month high of $16.99. The company has a market capitalization of $3.70 billion, a PE ratio of 18.12 and a beta of 1.13. The stock’s 50 day moving average price is $15.50 and its 200-day moving average price is $15.06. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The company had revenue of $378.84 million for the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter last year, the business posted $0.45 EPS. On average, equities analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be issued a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.23%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on APLE shares. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their target price for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Moderate Buy” and an average target price of $16.60.

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.