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

Allianz Asset Management GmbH reduced its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 24.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 738,300 shares of the real estate investment trust’s stock after selling 238,138 shares during the quarter. Allianz Asset Management GmbH’s holdings in Apple Hospitality REIT were worth $8,867,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in shares of Apple Hospitality REIT by 2.8% during the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock valued at $2,205,000 after acquiring an additional 4,712 shares in the last quarter. AQR Capital Management LLC grew its position in Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after purchasing an additional 72,553 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after purchasing an additional 6,788 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Apple Hospitality REIT by 10,235.7% during the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 21,495 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Analysts Set New Price Targets

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

Apple Hospitality REIT Stock Up 1.8%

Apple Hospitality REIT stock opened at $12.17 on Monday. Apple Hospitality REIT, Inc. has a fifty-two week low of $10.44 and a fifty-two week high of $15.86. The stock has a market cap of $2.88 billion, a PE ratio of 16.67 and a beta of 0.84. The firm’s 50-day simple moving average is $12.05 and its 200 day simple moving average is $12.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.06 and a current ratio of 0.06.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Friday, January 30th will be paid a $0.08 dividend. 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 Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average cost of $11.91 per share, with a total value of $59,550.00. Following the completion of the transaction, the chairman owned 710,344 shares of the company’s stock, valued at $8,460,197.04. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders purchased 8,000 shares of company stock valued at $95,180 over the last three months. Corporate insiders own 7.10% of the company’s stock.

Apple Hospitality REIT Company 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.