Nomura Asset Management Co. Ltd. boosted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Get Rating) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,000 shares of the real estate investment trust's stock after acquiring an additional 12,300 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.09% of Apple Hospitality REIT worth $2,924,000 at the end of the most recent quarter.
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A number of other institutional investors have also recently added to or reduced their stakes in APLE. Acadian Asset Management LLC acquired a new position in shares of Apple Hospitality REIT during the 1st quarter valued at $25,000. Lazard Asset Management LLC acquired a new position in shares of Apple Hospitality REIT during the 2nd quarter valued at $29,000. Ronald Blue Trust Inc. lifted its position in shares of Apple Hospitality REIT by 145.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,528 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 1,496 shares during the period. Pinebridge Investments L.P. raised its holdings in Apple Hospitality REIT by 309.1% during the second quarter. Pinebridge Investments L.P. now owns 2,864 shares of the real estate investment trust's stock worth $42,000 after buying an additional 2,164 shares during the last quarter. Finally, CWM LLC raised its holdings in Apple Hospitality REIT by 7,602.3% during the third quarter. CWM LLC now owns 3,312 shares of the real estate investment trust's stock worth $47,000 after buying an additional 3,269 shares during the last quarter. 79.39% of the stock is owned by institutional investors.
Separately, Wells Fargo & Company upped 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.75.
NYSE APLE opened at $17.01 on Tuesday. Apple Hospitality REIT, Inc. has a 52 week low of $13.79 and a 52 week high of $18.69. The company has a market cap of $3.89 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 0.39 and a beta of 1.18. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.44. The firm's 50-day simple moving average is $16.68 and its two-hundred day simple moving average is $16.28.
The company also recently declared a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Monday, February 27th. Apple Hospitality REIT's payout ratio is 139.13%.
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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