Allianz Asset Management GmbH Sells 238,138 Shares of Apple Hospitality REIT, Inc. $APLE

Allianz Asset Management GmbH cut its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 24.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 738,300 shares of the real estate investment trust’s stock after selling 238,138 shares during the period. Allianz Asset Management GmbH owned about 0.31% of Apple Hospitality REIT worth $8,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LSV Asset Management lifted its holdings in shares of Apple Hospitality REIT by 8.8% during the second quarter. LSV Asset Management now owns 2,741,253 shares of the real estate investment trust’s stock worth $31,990,000 after purchasing an additional 221,976 shares during the period. Systematic Financial Management LP raised its position in Apple Hospitality REIT by 3.5% during the 2nd quarter. Systematic Financial Management LP now owns 2,255,552 shares of the real estate investment trust’s stock worth $26,322,000 after purchasing an additional 75,638 shares during the last quarter. Bank of America Corp DE lifted its holdings in Apple Hospitality REIT by 42.6% during the 2nd quarter. Bank of America Corp DE now owns 1,904,629 shares of the real estate investment trust’s stock worth $22,227,000 after buying an additional 569,109 shares during the period. Centerbridge Partners L.P. bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter valued at about $22,147,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Apple Hospitality REIT by 26.7% in the second quarter. Ameriprise Financial Inc. now owns 1,781,420 shares of the real estate investment trust’s stock valued at $20,789,000 after buying an additional 374,979 shares during the period. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on APLE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target for the company. in a report on Tuesday, November 4th. Finally, Barclays began coverage on shares of Apple Hospitality REIT in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.92.

Apple Hospitality REIT Trading Up 1.8%

NYSE APLE opened at $12.17 on Monday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 16.67 and a beta of 0.84. The business has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $12.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06. Apple Hospitality REIT, Inc. has a one year low of $10.44 and a one year high of $15.86.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 30th will be given a dividend of $0.08 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, January 30th. Apple Hospitality REIT’s payout ratio is presently 131.51%.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the completion of the acquisition, the chairman owned 710,344 shares of the company’s stock, valued at $8,460,197.04. This trade represents a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired 8,000 shares of company stock worth $95,180 over the last 90 days. 7.10% of the stock is owned by corporate insiders.

Apple Hospitality REIT Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.