Baird Financial Group Inc. Has $1.21 Million Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Baird Financial Group Inc. raised its holdings in Apple Hospitality REIT, Inc. (NYSE:APLEGet Rating) by 7.1% during the second quarter, HoldingsChannel reports. The firm owned 82,245 shares of the real estate investment trust’s stock after acquiring an additional 5,454 shares during the quarter. Baird Financial Group Inc.’s holdings in Apple Hospitality REIT were worth $1,206,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its stake in shares of Apple Hospitality REIT by 1.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 63,294 shares of the real estate investment trust’s stock valued at $1,137,000 after acquiring an additional 702 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Apple Hospitality REIT by 53.8% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,386 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 1,185 shares during the last quarter. Securian Asset Management Inc. bought a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $5,474,000. Ellis Investment Partners LLC lifted its stake in shares of Apple Hospitality REIT by 5.2% in the 1st quarter. Ellis Investment Partners LLC now owns 21,450 shares of the real estate investment trust’s stock valued at $385,000 after acquiring an additional 1,053 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of Apple Hospitality REIT by 3.2% in the 1st quarter. abrdn plc now owns 47,568 shares of the real estate investment trust’s stock valued at $874,000 after acquiring an additional 1,494 shares during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Apple Hospitality REIT Stock Up 3.1 %

Shares of NYSE:APLE opened at $16.47 on Friday. The firm has a market cap of $3.77 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.40 and a beta of 1.16. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. Apple Hospitality REIT, Inc. has a 12-month low of $13.79 and a 12-month high of $18.69. The business has a fifty day simple moving average of $15.65 and a 200 day simple moving average of $15.91.

Apple Hospitality REIT Increases Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, November 15th. Investors of record on Wednesday, November 2nd were given a dividend of $0.08 per share. This is a positive change from Apple Hospitality REIT’s previous monthly dividend of $0.07. This represents a $0.96 annualized dividend and a yield of 5.83%. The ex-dividend date of this dividend was Tuesday, November 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 139.13%.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was purchased at an average cost of $16.29 per share, for a total transaction of $81,450.00. Following the acquisition, the chairman now owns 498,093 shares in the company, valued at approximately $8,113,934.97. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APLE. B. Riley upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating in a research note on Thursday, August 11th. TheStreet upgraded Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Thursday, August 11th. StockNews.com assumed coverage on Apple Hospitality REIT in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Wells Fargo & Company raised Apple Hospitality REIT from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $16.00 to $17.00 in a research report on Monday, August 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Apple Hospitality REIT Company Profile

(Get Rating)

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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