Fmr LLC has increased its holdings in Apple Hospitality REIT by 23.2% during the first quarter, according to the company’s recent filing with the Securities and Exchange Commission. The institutional investor now owns 3,567,010 shares of the real estate investment trust’s stock, representing approximately 1.56% of the company’s worth, valued at $55,360,000.
Several other hedge funds and institutional investors have also made changes to their holdings of Apple Hospitality REIT. ExodusPoint Capital Management LP acquired a new position in the company during the first quarter, while American Century Companies Inc. raised its stake by 14.1%. Envestnet Asset Management Inc. and Connectus Wealth LLC also increased their positions in the company. Overall, 80.53% of the stock is owned by hedge funds and institutional investors.
Analysts have provided their opinions on Apple Hospitality REIT, with two rating the stock as a hold and three assigning it a buy rating. The stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.20.
Apple Hospitality REIT opened at $15.99 on the New York Stock Exchange. With a market capitalization of $3.66 billion, the company has a 52-week low of $13.66 and a 52-week high of $18.22.
The company recently declared a monthly dividend of $0.08 per share, to be paid on September 15th to shareholders of record on August 31st. This represents an annualized dividend of $0.96 and a yield of 6.01%.
Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock on August 11th at an average price of $15.07 per share. Following this transaction, the chairman now owns 573,109 shares of the company’s stock.
Apple Hospitality REIT is a publicly traded real estate investment trust that owns a diverse portfolio of upscale hotels in the United States. The company’s portfolio includes 220 hotels with over 28,900 guest rooms, located in 87 markets throughout 37 states.
Sources: Fmr LLC, Securities and Exchange Commission, MarketBeat