Mackenzie Financial Corp Buys 6,839 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Mackenzie Financial Corp grew its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 517,350 shares of the real estate investment trust’s stock after acquiring an additional 6,839 shares during the period. Mackenzie Financial Corp owned 0.23% of Apple Hospitality REIT worth $8,593,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Apple Hospitality REIT by 7.5% during the third quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock worth $542,574,000 after purchasing an additional 2,476,241 shares during the period. Norges Bank bought a new position in Apple Hospitality REIT during the fourth quarter worth about $37,208,000. State Street Corp grew its holdings in Apple Hospitality REIT by 14.7% during the first quarter. State Street Corp now owns 10,388,765 shares of the real estate investment trust’s stock worth $186,686,000 after purchasing an additional 1,331,707 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Apple Hospitality REIT by 37.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,480,292 shares of the real estate investment trust’s stock worth $80,511,000 after purchasing an additional 1,215,575 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Apple Hospitality REIT by 19.9% during the third quarter. Principal Financial Group Inc. now owns 7,040,599 shares of the real estate investment trust’s stock worth $108,003,000 after purchasing an additional 1,170,865 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Up 1.5 %

NYSE APLE opened at $15.15 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45. Apple Hospitality REIT, Inc. has a 1-year low of $14.22 and a 1-year high of $17.90. The company has a 50 day moving average of $16.14 and a 200-day moving average of $16.25. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 19.42 and a beta of 1.08.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be given a $0.08 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.34%. Apple Hospitality REIT’s payout ratio is 123.08%.

Wall Street Analyst Weigh In

APLE has been the subject of a number of research analyst reports. Bank of America cut Apple Hospitality REIT from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $19.00 to $18.00 in a report on Monday, January 8th. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, Wells Fargo & Company raised 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 research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.40.

About Apple Hospitality REIT

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.