The Vanguard Group, Inc. recently announced the acquisition of new stake in Apple Hospitality REIT Inc (NYSE:APLE). The institutional investor has increased its shareholding in the Real Estate company by 7.65% to 34.81 million shares with purchase of 2.47 million shares. This fresh investment now brings its stake to 15.21% valued currently at $580.24 million. In addition, BlackRock Fund Advisors raised its holdings by 16.78 million to 33.8 million shares. And SSgA Funds Management, Inc. has lifted its position by 30.67% or 3.28 million shares – to 13.98 million shares.
Currently, there are 228.64M common shares owned by the public and among those 213.40M shares have been available to trade.
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Insiders at the company have transacted a total of 49 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 39 of these insider trades were purchases, accounting for 558,943 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 215,611 shares.
The top 3 mutual fund holders in Apple Hospitality REIT Inc are iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Capitol Series Trust – Fuller & T. iShares Core S&P Small Cap ETF owns 14.24 million shares of the company’s stock, all valued at over $237.36 million. The company bought an additional 6672.0 shares recently to bring their total holdings to about 6.22% of the shares outstanding. Vanguard Real Estate Index Fund sold 58440.0 shares to see its total holdings shrink to 8.97 million shares valued at over $149.52 million and representing 3.92% of the shares outstanding. Capitol Series Trust – Fuller & T now owns shares totaling to 2.98% of the shares outstanding.
However, the script later moved the day high at 17.42, down -0.18%. The company’s stock has a 5-day price change of 0.00% and 7.34% over the past three months. APLE shares are trading 7.48% year to date (YTD), with the 12-month market performance up to 5.10% higher. It has a 12-month low price of $13.66 and touched a high of $18.22 over the same period. APLE has an average intraday trading volume of 2.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.15%, 4.37%, and 9.60% respectively.
Institutional ownership of Apple Hospitality REIT Inc (NYSE: APLE) shares accounts for 91.77% of the company’s 228.64M shares outstanding. Mutual fund holders own 63.73%, while other institutional holders and individual stakeholders account for 7.32% and 28.64% respectively.
It has a market capitalization of $3.88B and a beta (3y monthly) value of 1.14. The stock’s trailing 12-month PE ratio is 24.43, while the earnings-per-share (ttm) stands at $0.69. The company has a debt-to-equity ratio at 0.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.12% over the week and 2.24% over the month.
Analysts forecast that Apple Hospitality REIT Inc (APLE) will achieve an EPS of $0.1 for the current quarter, $0.15 for the next quarter and $0.83 for 2024. The lowest estimate earnings-per-share for the quarter is $0.08 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 24.60%, and 5.73% over the next financial year.
Looking at the support for the APLE, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on December 08, 2023, with the firm’s price target at $18-$17.
