Spirit of America Management Corp NY Purchases 4,925 Shares of Apple Hospitality REIT Inc (APLE)

Spirit of America Management Corp NY lifted its position in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 3.7% during the first quarter, HoldingsChannel.com reports. The firm owned 138,449 shares of the real estate investment trust’s stock after buying an additional 4,925 shares during the quarter. Spirit of America Management Corp NY’s holdings in Apple Hospitality REIT were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APLE. Norges Bank bought a new position in shares of Apple Hospitality REIT during the fourth quarter worth approximately $34,730,000. Prudential Financial Inc. increased its stake in shares of Apple Hospitality REIT by 90.4% during the fourth quarter. Prudential Financial Inc. now owns 4,761,216 shares of the real estate investment trust’s stock worth $67,895,000 after purchasing an additional 2,260,421 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of Apple Hospitality REIT by 84.6% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,716,208 shares of the real estate investment trust’s stock worth $38,733,000 after purchasing an additional 1,244,842 shares during the period. D. E. Shaw & Co. Inc. increased its stake in shares of Apple Hospitality REIT by 160.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 929,375 shares of the real estate investment trust’s stock worth $13,253,000 after purchasing an additional 572,233 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Apple Hospitality REIT by 3.5% during the fourth quarter. BlackRock Inc. now owns 16,491,789 shares of the real estate investment trust’s stock worth $235,172,000 after purchasing an additional 559,286 shares during the period. Institutional investors own 57.30% of the company’s stock.

In related news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average cost of $16.54 per share, with a total value of $82,700.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daryl Arthur Nickel bought 24,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $16.44 per share, for a total transaction of $394,560.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 30,000 shares of company stock worth $493,640. 6.30% of the stock is currently owned by company insiders.

Apple Hospitality REIT stock traded down $0.11 during mid-day trading on Wednesday, reaching $16.36. 6,453 shares of the company were exchanged, compared to its average volume of 1,009,621. Apple Hospitality REIT Inc has a 12 month low of $13.81 and a 12 month high of $19.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $3.68 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86.

The firm also recently declared a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were paid a $0.10 dividend. The ex-dividend date was Tuesday, April 2nd. This represents a $1.20 annualized dividend and a dividend yield of 7.33%. Apple Hospitality REIT’s payout ratio is 69.77%.

APLE has been the topic of a number of recent research reports. TheStreet lowered Apple Hospitality REIT from a “b-” rating to a “c+” rating in a research note on Thursday, January 3rd. ValuEngine lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Barclays restated a “hold” rating and set a $18.00 price objective on shares of Apple Hospitality REIT in a research note on Sunday, February 10th. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, B. Riley restated a “buy” rating on shares of Apple Hospitality REIT in a research note on Tuesday, February 26th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Apple Hospitality REIT currently has a consensus rating of “Hold” and an average price target of $19.67.

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Apple Hospitality REIT 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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

Featured Story: Institutional Investors

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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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