Sumitomo Mitsui Trust Holdings Inc. Buys 19,309 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 8.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 250,566 shares of the real estate investment trust’s stock after purchasing an additional 19,309 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Apple Hospitality REIT were worth $4,162,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Apple Hospitality REIT by 0.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,845 shares of the real estate investment trust’s stock worth $1,578,000 after acquiring an additional 674 shares during the last quarter. Blue Trust Inc. lifted its position in Apple Hospitality REIT by 11.9% during the fourth quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 734 shares during the last quarter. Arizona State Retirement System lifted its position in Apple Hospitality REIT by 1.2% during the third quarter. Arizona State Retirement System now owns 61,947 shares of the real estate investment trust’s stock valued at $950,000 after purchasing an additional 749 shares during the last quarter. abrdn plc lifted its position in Apple Hospitality REIT by 2.3% during the third quarter. abrdn plc now owns 45,164 shares of the real estate investment trust’s stock valued at $693,000 after purchasing an additional 1,004 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Apple Hospitality REIT by 4.3% during the third quarter. Van ECK Associates Corp now owns 25,254 shares of the real estate investment trust’s stock valued at $387,000 after purchasing an additional 1,046 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

APLE has been the subject of several research reports. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $19.00 to $18.00 in a research report on Monday, January 8th. StockNews.com lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.40.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock opened at $15.46 on Wednesday. The firm has a 50-day moving average price of $16.13 and a 200-day moving average price of $16.28. The firm has a market capitalization of $3.75 billion, a PE ratio of 19.82 and a beta of 1.08. 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 12-month low of $14.22 and a 12-month high of $17.90.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.96 annualized dividend and a dividend yield of 6.21%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 123.08%.

Apple Hospitality REIT Company 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, 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.