Federated Hermes Inc. Sells 30,302 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Federated Hermes Inc. reduced its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 79.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,738 shares of the real estate investment trust’s stock after selling 30,302 shares during the quarter. Federated Hermes Inc.’s holdings in Apple Hospitality REIT were worth $129,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Apple Hospitality REIT by 0.7% in 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 buying an additional 674 shares during the period. Blue Trust Inc. boosted its position in shares of 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 in the last quarter. Arizona State Retirement System grew its stake in Apple Hospitality REIT by 1.2% in the third quarter. Arizona State Retirement System now owns 61,947 shares of the real estate investment trust’s stock worth $950,000 after purchasing an additional 749 shares during the period. abrdn plc raised its holdings in Apple Hospitality REIT by 2.3% in the third quarter. abrdn plc now owns 45,164 shares of the real estate investment trust’s stock worth $693,000 after purchasing an additional 1,004 shares in 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 buying an additional 1,046 shares during the period. 89.66% of the stock is owned by hedge funds and other institutional investors.

Apple Hospitality REIT Stock Up 0.8 %

NYSE:APLE opened at $14.80 on Tuesday. The firm has a 50-day simple moving average of $15.92 and a two-hundred day simple moving average of $16.23. The firm has a market cap of $3.59 billion, a P/E ratio of 18.97 and a beta of 1.10. Apple Hospitality REIT, Inc. has a fifty-two week low of $14.22 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors 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 dividend on an annualized basis and a yield of 6.49%. Apple Hospitality REIT’s payout ratio is currently 123.08%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on APLE shares. StockNews.com lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $18.00 in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus price target of $18.40.

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.