Public Employees Retirement System of Ohio lessened its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 260,698 shares of the real estate investment trust’s stock after selling 46,832 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.11% of Apple Hospitality REIT worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of APLE. SG Americas Securities LLC increased its holdings in shares of Apple Hospitality REIT by 91.9% in the fourth quarter. SG Americas Securities LLC now owns 109,512 shares of the real estate investment trust’s stock worth $1,298,000 after purchasing an additional 52,446 shares during the period. Hsbc Holdings PLC boosted its stake in Apple Hospitality REIT by 19.6% during the fourth quarter. Hsbc Holdings PLC now owns 374,968 shares of the real estate investment trust’s stock valued at $4,443,000 after buying an additional 61,354 shares during the period. Louisiana State Employees Retirement System bought a new stake in Apple Hospitality REIT during the first quarter valued at $1,123,000. UBS Group AG grew its position in Apple Hospitality REIT by 60.8% during the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after buying an additional 1,786,018 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Apple Hospitality REIT during the first quarter worth about $702,000. 89.66% of the stock is currently owned by hedge funds and other institutional investors.
Apple Hospitality REIT Stock Down 0.6%
Shares of APLE opened at $16.50 on Friday. The firm has a market cap of $3.90 billion, a P/E ratio of 22.61, a P/E/G ratio of 3.25 and a beta of 0.87. The stock has a 50 day simple moving average of $16.24 and a two-hundred day simple moving average of $13.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. Apple Hospitality REIT, Inc. has a 1 year low of $10.85 and a 1 year high of $17.13.
Apple Hospitality REIT Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 131.51%.
Insider Activity at Apple Hospitality REIT
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $13.96 per share, for a total transaction of $69,800.00. Following the transaction, the chairman directly owned 747,191 shares in the company, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research raised Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. LADENBURG THALM/SH SH upped their price objective on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Cantor Fitzgerald upped their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.00.
Read Our Latest Research Report on Apple Hospitality REIT
Apple Hospitality REIT Profile
Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.
The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.
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