Mackenzie Financial Corp increased its position in Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) by 2,013.2% in the second quarter, HoldingsChannel reports. The firm owned 284,588 shares of the real estate investment trust’s stock after purchasing an additional 271,121 shares during the quarter. Mackenzie Financial Corp’s holdings in Apple Hospitality REIT were worth $4,175,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC purchased a new position in shares of Apple Hospitality REIT in the 2nd quarter valued at approximately $165,000. Pictet Asset Management SA increased its position in Apple Hospitality REIT by 4.9% during the 2nd quarter. Pictet Asset Management SA now owns 86,455 shares of the real estate investment trust’s stock valued at $1,268,000 after buying an additional 4,049 shares in the last quarter. Lazard Asset Management LLC bought a new position in Apple Hospitality REIT during the 2nd quarter valued at approximately $29,000. Baird Financial Group Inc. increased its position in Apple Hospitality REIT by 7.1% during the 2nd quarter. Baird Financial Group Inc. now owns 82,245 shares of the real estate investment trust’s stock valued at $1,206,000 after buying an additional 5,454 shares in the last quarter. Finally, M&T Bank Corp increased its position in Apple Hospitality REIT by 18.3% during the 2nd quarter. M&T Bank Corp now owns 21,583 shares of the real estate investment trust’s stock valued at $268,000 after buying an additional 3,333 shares in the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on APLE shares. B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating in a research report on Thursday, August 11th. StockNews.com started coverage on Apple Hospitality REIT in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company raised Apple Hospitality REIT from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $16.00 to $17.00 in a research report on Monday, August 29th. Finally, TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a research report on Thursday, August 11th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.
Insider Transactions at Apple Hospitality REIT
Apple Hospitality REIT Stock Up 3.1 %
Apple Hospitality REIT stock opened at $16.47 on Monday. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.41 and a beta of 1.16. The stock has a fifty day simple moving average of $15.65 and a two-hundred day simple moving average of $15.88. Apple Hospitality REIT, Inc. has a 12 month low of $13.79 and a 12 month high of $18.69. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.44.
Apple Hospitality REIT Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be paid a $0.08 dividend. The ex-dividend date is Thursday, December 1st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.83%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 139.13%.
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, 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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