Apple Hospitality REIT, Inc. (NYSE:APLE) Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Posted by Defense World Staff on Apr 23rd, 2023

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,233 shares of the real estate investment trust’s stock after purchasing an additional 6,941 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Apple Hospitality REIT worth $2,592,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in Apple Hospitality REIT by 11.8% in the first quarter. Raymond James & Associates now owns 99,450 shares of the real estate investment trust’s stock worth $1,787,000 after buying an additional 10,534 shares during the last quarter. US Bancorp DE grew its position in Apple Hospitality REIT by 67.6% in the first quarter. US Bancorp DE now owns 7,542 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 3,043 shares during the last quarter. HighTower Advisors LLC acquired a new position in Apple Hospitality REIT in the first quarter worth approximately $366,000. Acadian Asset Management LLC acquired a new position in Apple Hospitality REIT in the first quarter worth approximately $25,000. Finally, MetLife Investment Management LLC grew its position in Apple Hospitality REIT by 55.0% in the first quarter. MetLife Investment Management LLC now owns 113,977 shares of the real estate investment trust’s stock worth $2,048,000 after buying an additional 40,438 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

Apple Hospitality REIT Trading Up 0.1 %

NYSE APLE opened at $15.43 on Friday. Apple Hospitality REIT, Inc. has a twelve month low of $13.66 and a twelve month high of $18.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.03 and a current ratio of 0.03. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 24.11, a PEG ratio of 0.49 and a beta of 1.17. The firm’s 50 day moving average price is $15.82 and its two-hundred day moving average price is $16.20.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 28th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.22%. The ex-dividend date is Thursday, April 27th. Apple Hospitality REIT’s payout ratio is 150.00%.

Insiders Place Their Bets

In related news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Monday, February 27th. The shares were acquired at an average cost of $16.90 per share, for a total transaction of $84,500.00. Following the acquisition, the chairman now directly owns 503,093 shares in the company, valued at approximately $8,502,271.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Wells Fargo & Company upgraded shares of Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $18.00 to $17.00 in a research report on Thursday, March 30th. Finally, Compass Point lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $17.00 in a research report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

About Apple Hospitality REIT

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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.