Zurcher Kantonalbank Zurich Cantonalbank Has $2.36 Million Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 141,756 shares of the real estate investment trust’s stock after selling 5,652 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Apple Hospitality REIT were worth $2,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Apple Hospitality REIT by 7.5% in the 3rd quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock valued at $542,574,000 after purchasing an additional 2,476,241 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Apple Hospitality REIT by 19.9% in the third quarter. Principal Financial Group Inc. now owns 7,040,599 shares of the real estate investment trust’s stock valued at $108,003,000 after acquiring an additional 1,170,865 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Apple Hospitality REIT by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 5,325,652 shares of the real estate investment trust’s stock worth $81,696,000 after acquiring an additional 43,920 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Apple Hospitality REIT by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,134,029 shares of the real estate investment trust’s stock valued at $63,416,000 after acquiring an additional 45,582 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Apple Hospitality REIT by 17.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,375,459 shares of the real estate investment trust’s stock valued at $51,746,000 after acquiring an additional 502,472 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $15.46 on Wednesday. Apple Hospitality REIT, Inc. has a 12-month low of $14.22 and a 12-month high of $17.90. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 19.82 and a beta of 1.08. The stock’s 50 day moving average price is $16.13 and its two-hundred day moving average price is $16.28. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.45.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio is presently 123.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $19.00 to $18.00 in a report on Monday, January 8th. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.40.

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 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.