Acadian Asset Management LLC lifted its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 222.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,753 shares of the real estate investment trust’s stock after acquiring an additional 41,215 shares during the period. Acadian Asset Management LLC’s holdings in Apple Hospitality REIT were worth $1,068,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in APLE. Franklin Resources Inc. bought a new stake in Apple Hospitality REIT during the 1st quarter valued at $176,000. Cambridge Investment Research Advisors Inc. bought a new stake in Apple Hospitality REIT during the 4th quarter valued at $213,000. Element Capital Management LLC bought a new stake in Apple Hospitality REIT during the 1st quarter valued at $222,000. TLP Group LLC boosted its position in Apple Hospitality REIT by 1,074.4% during the 1st quarter. TLP Group LLC now owns 12,942 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 11,840 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in Apple Hospitality REIT during the 1st quarter valued at $287,000. 56.54% of the stock is owned by institutional investors.
Shares of NYSE APLE traded down $0.25 during trading on Friday, reaching $17.65. 1,719,400 shares of the company traded hands, compared to its average volume of 1,329,727. The firm has a market capitalization of $4.12 billion, a P/E ratio of 10.14, a PEG ratio of 2.06 and a beta of 0.66. Apple Hospitality REIT Inc has a 12-month low of $16.72 and a 12-month high of $20.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06.
The firm also recently declared a monthly dividend, which will be paid on Monday, September 17th. Investors of record on Tuesday, September 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 6.80%. Apple Hospitality REIT’s dividend payout ratio is presently 68.97%.
In other Apple Hospitality REIT news, insider Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was purchased at an average price of $17.33 per share, for a total transaction of $86,650.00. Following the purchase, the insider now directly owns 10,098,533 shares in the company, valued at $175,007,576.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin G. Knight purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was acquired at an average price of $17.65 per share, with a total value of $105,900.00. Following the purchase, the insider now owns 1,109,681 shares in the company, valued at $19,585,869.65. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 34,189 shares of company stock valued at $598,010. 6.30% of the stock is owned by company insiders.
A number of analysts have recently weighed in on APLE shares. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. B. Riley set a $20.00 price objective on Apple Hospitality REIT and gave the stock a “hold” rating in a research report on Tuesday, May 8th. Finally, TheStreet upgraded Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, May 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus target price of $20.25.
About Apple Hospitality REIT
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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