Mackenzie Financial Corp boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) by 2,013.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 owned about 0.12% of Apple Hospitality REIT worth $4,175,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Cerity Partners LLC bought a new stake in Apple Hospitality REIT in the second quarter worth approximately $165,000. Pictet Asset Management SA increased its holdings in shares of Apple Hospitality REIT by 4.9% during the second quarter. Pictet Asset Management SA now owns 86,455 shares of the real estate investment trust’s stock valued at $1,268,000 after acquiring an additional 4,049 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Apple Hospitality REIT during the second quarter valued at approximately $29,000. Baird Financial Group Inc. increased its holdings in shares of Apple Hospitality REIT by 7.1% during the second quarter. Baird Financial Group Inc. now owns 82,245 shares of the real estate investment trust’s stock valued at $1,206,000 after acquiring an additional 5,454 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Apple Hospitality REIT by 18.3% during the second quarter. M&T Bank Corp now owns 21,583 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 3,333 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on APLE. Wells Fargo & Company upgraded Apple Hospitality REIT from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Monday, August 29th. B. Riley upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating in a report on Thursday, August 11th. StockNews.com began coverage on Apple Hospitality REIT in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, TheStreet upgraded Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Thursday, August 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Apple Hospitality REIT has an average rating of “Moderate Buy” and a consensus target price of $19.50.
Apple Hospitality REIT Stock Up 3.1 %
Apple Hospitality REIT Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 2nd will be paid a dividend of $0.08 per share. 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 payout ratio is 139.13%.
Insider Activity at Apple Hospitality REIT
In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The shares were bought at an average cost of $16.29 per share, for a total transaction of $81,450.00. Following the purchase, the chairman now owns 498,093 shares in the company, valued at approximately $8,113,934.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.
Apple Hospitality REIT Company Profile
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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