Sun Sep 15 10:25:12 UTC 2024: ## Hedge Funds Adjust Holdings in Apple Hospitality REIT

**New York, NY** – PFG Investments LLC trimmed its stake in Apple Hospitality REIT, Inc. (NYSE: APLE) by 5.7% in the second quarter, according to the fund’s latest Form 13F filing with the Securities and Exchange Commission (SEC). Meanwhile, several other hedge funds increased their positions in the company.

PFG Investments LLC now owns 12,050 shares of the real estate investment trust, valued at $175,000.

Other notable changes include:

* **B. Riley Wealth Advisors Inc.** increased its stake by 3.0% in the fourth quarter, now owning 29,662 shares worth $497,000.
* **State Board of Administration of Florida Retirement System** raised its position by 1.7% in the first quarter, now owning 63,506 shares worth $986,000.
* **Aurora Investment Counsel** boosted its stake by 4.5% in the first quarter, now owning 26,799 shares worth $439,000.
* **Blue Trust Inc.** increased its holdings by 15.5% in the second quarter, now owning 9,657 shares valued at $140,000.
* **PNC Financial Services Group Inc.** grew its stake by 5.4% in the fourth quarter, now owning 26,598 shares worth $442,000.

Institutional investors and hedge funds now own 89.66% of Apple Hospitality REIT’s stock.

Apple Hospitality REIT’s stock opened at $14.28 on Friday, with a market cap of $3.46 billion. The company declared a monthly dividend of $0.08 per share, payable on September 16th.

Analysts have issued mixed opinions on the stock. Wedbush initiated coverage with a “neutral” rating and a $15.00 price target. Wells Fargo & Company downgraded its price target to $15.00 and maintained an “equal weight” rating. Oppenheimer reduced its price objective to $17.00 and maintained an “outperform” rating.

Apple Hospitality REIT is a publicly traded REIT that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. The company operates 223 hotels with over 29,400 guest rooms in 87 markets across 37 states.

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