Pictet Asset Management SA lifted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,455 shares of the real estate investment trust’s stock after buying an additional 4,049 shares during the period. Pictet Asset Management SA’s holdings in Apple Hospitality REIT were worth $1,268,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at about $36,000. Lazard Asset Management LLC bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at about $29,000. Valley National Advisers Inc. bought a new stake in shares of Apple Hospitality REIT in the 1st quarter valued at about $51,000. Finally, Pinebridge Investments L.P. raised its holdings in shares of Apple Hospitality REIT by 309.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,864 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 2,164 shares during the period. 81.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Apple Hospitality REIT
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction dated Thursday, November 10th. The shares were bought at an average cost of $16.29 per share, with a total value of $81,450.00. Following the completion of the acquisition, the chairman now owns 498,093 shares of the company’s stock, valued at $8,113,934.97. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.
Analyst Ratings Changes
Apple Hospitality REIT Stock Up 2.5 %
Apple Hospitality REIT stock opened at $16.84 on Wednesday. The stock has a market cap of $3.85 billion, a P/E ratio of 24.41, a P/E/G ratio of 0.41 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 twelve month low of $13.79 and a twelve month high of $18.69. The company’s 50-day moving average price is $15.67 and its two-hundred day moving average price is $15.88.
Apple Hospitality REIT Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, December 1st. This represents a $0.96 annualized dividend and a dividend yield of 5.70%. Apple Hospitality REIT’s dividend payout ratio is presently 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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