Shell Asset Management Co. reduced its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Rating) by 20.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,577 shares of the real estate investment trust's stock after selling 7,218 shares during the period. Shell Asset Management Co.'s holdings in Apple Hospitality REIT were worth $388,000 at the end of the most recent quarter.
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Several other hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in shares of Apple Hospitality REIT by 70.4% during the 3rd quarter. Hsbc Holdings PLC now owns 100,285 shares of the real estate investment trust's stock worth $1,413,000 after purchasing an additional 41,445 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Apple Hospitality REIT by 72.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 84,867 shares of the real estate investment trust's stock worth $1,193,000 after acquiring an additional 35,539 shares during the period. MYDA Advisors LLC lifted its holdings in shares of Apple Hospitality REIT by 10.4% during the 3rd quarter. MYDA Advisors LLC now owns 165,647 shares of the real estate investment trust's stock worth $2,329,000 after acquiring an additional 15,647 shares during the period. Dakota Wealth Management lifted its holdings in shares of Apple Hospitality REIT by 35.1% during the 3rd quarter. Dakota Wealth Management now owns 238,744 shares of the real estate investment trust's stock worth $3,357,000 after acquiring an additional 62,026 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Apple Hospitality REIT by 6.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 208,000 shares of the real estate investment trust's stock worth $2,924,000 after acquiring an additional 12,300 shares during the period. 79.39% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on APLE. Wells Fargo & Company increased their price objective on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Thursday, February 2nd. StockNews.com lowered shares of Apple Hospitality REIT from a "hold" rating to a "sell" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $19.75.
NYSE APLE opened at $16.92 on Friday. Apple Hospitality REIT, Inc. has a one year low of $13.79 and a one year high of $18.69. The company's 50 day moving average price is $16.68 and its 200 day moving average price is $16.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 0.38 and a beta of 1.18.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.96 annualized dividend and a yield of 5.67%. Apple Hospitality REIT's payout ratio is 150.00%.
Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.
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