Spirit of America Management Corp NY boosted its stake in Apple Hospitality REIT Inc (NYSE:APLE) by 3.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,449 shares of the real estate investment trust’s stock after purchasing an additional 4,925 shares during the quarter. Spirit of America Management Corp NY owned about 0.06% of Apple Hospitality REIT worth $2,256,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Manhattan Co. bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $56,000. IFP Advisors Inc increased its holdings in shares of Apple Hospitality REIT by 160.2% in the fourth quarter. IFP Advisors Inc now owns 3,966 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 2,442 shares in the last quarter. Barings LLC bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $151,000. Meeder Asset Management Inc. increased its holdings in shares of Apple Hospitality REIT by 81.0% in the first quarter. Meeder Asset Management Inc. now owns 10,687 shares of the real estate investment trust’s stock worth $174,000 after acquiring an additional 4,783 shares in the last quarter. Finally, AlphaCrest Capital Management LLC bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $161,000. Institutional investors and hedge funds own 57.30% of the company’s stock.
In other news, insider Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, March 1st. The stock was bought at an average cost of $16.54 per share, with a total value of $82,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daryl Arthur Nickel acquired 24,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, March 1st. The shares were purchased at an average cost of $16.44 per share, with a total value of $394,560.00. The disclosure for this purchase can be found here. Insiders have bought 30,000 shares of company stock valued at $493,640 over the last ninety days. 6.30% of the stock is owned by insiders.
The company also recently disclosed a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $1.20 annualized dividend and a dividend yield of 7.33%. Apple Hospitality REIT’s dividend payout ratio is currently 69.77%.
Separately, Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.67.
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.
See Also: What is a Leveraged Buyout (LBO)?
Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.