Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Acquired by Renaissance Technologies LLC

March 7, 2023

Renaissance Technologies LLC grew its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Get Rating) by 118.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,100 shares of the real estate investment trust's stock after purchasing an additional 403,300 shares during the period. Renaissance Technologies LLC owned approximately 0.33% of Apple Hospitality REIT worth $10,462,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Apple Hospitality REIT by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 33,258,207 shares of the real estate investment trust's stock valued at $597,649,000 after purchasing an additional 452,722 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Apple Hospitality REIT by 4.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 15,952,807 shares of the real estate investment trust's stock worth $234,028,000 after acquiring an additional 718,297 shares in the last quarter. State Street Corp lifted its position in Apple Hospitality REIT by 0.5% during the 2nd quarter. State Street Corp now owns 10,438,176 shares of the real estate investment trust's stock worth $153,128,000 after acquiring an additional 49,411 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Apple Hospitality REIT by 37.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,480,292 shares of the real estate investment trust's stock worth $80,511,000 after acquiring an additional 1,215,575 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Apple Hospitality REIT by 14.4% during the 2nd quarter. Deutsche Bank AG now owns 4,040,823 shares of the real estate investment trust's stock worth $59,279,000 after acquiring an additional 507,544 shares in the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $16.74 on Tuesday. The company has a market cap of $3.83 billion, a P/E ratio of 26.16, a PEG ratio of 0.53 and a beta of 1.17. The stock has a fifty day moving average price of $16.80 and a 200 day moving average price of $16.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.03 and a quick ratio of 0.03. Apple Hospitality REIT, Inc. has a 12 month low of $13.79 and a 12 month high of $18.69.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.96 dividend on an annualized basis and a yield of 5.73%. Apple Hospitality REIT's payout ratio is currently 150.00%.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, February 27th. The stock was bought at an average price of $16.90 per share, for a total transaction of $84,500.00. Following the transaction, the chairman now owns 503,093 shares of the company's stock, valued at approximately $8,502,271.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on APLE. Wells Fargo & Company boosted their price target on Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 2nd. StockNews.com upgraded Apple Hospitality REIT from a "sell" rating to a "hold" rating in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.75.

About Apple Hospitality REIT

(Get Rating)

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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Want to see what other hedge funds are holding APLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Hospitality REIT, Inc. (NYSE:APLE - Get Rating).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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