Daiwa Securities Group Inc. Cuts Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Daiwa Securities Group Inc. decreased its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,659 shares of the real estate investment trust’s stock after selling 3,244 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Apple Hospitality REIT were worth $1,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in APLE. State of Alaska Department of Revenue increased its position in shares of Apple Hospitality REIT by 132.6% during the third quarter. State of Alaska Department of Revenue now owns 234,835 shares of the real estate investment trust’s stock worth $3,601,000 after acquiring an additional 133,859 shares during the period. Goldstein Advisors LLC purchased a new stake in shares of Apple Hospitality REIT during the third quarter worth $157,000. Harbor Capital Advisors Inc. increased its position in shares of Apple Hospitality REIT by 13.6% during the third quarter. Harbor Capital Advisors Inc. now owns 132,784 shares of the real estate investment trust’s stock worth $2,037,000 after acquiring an additional 15,911 shares during the period. Maryland State Retirement & Pension System purchased a new stake in shares of Apple Hospitality REIT during the third quarter worth $1,202,000. Finally, Bank of New York Mellon Corp increased its position in shares of Apple Hospitality REIT by 52.7% during the third quarter. Bank of New York Mellon Corp now owns 2,303,878 shares of the real estate investment trust’s stock worth $35,341,000 after acquiring an additional 795,380 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $15.26 on Thursday. The firm has a market capitalization of $3.70 billion, a PE ratio of 19.58 and a beta of 1.08. The business’s fifty day moving average price is $16.12 and its 200 day moving average price is $16.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.36 and a quick ratio of 0.36. 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 business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.96 annualized dividend and a yield of 6.29%. Apple Hospitality REIT’s dividend payout ratio is presently 123.08%.

Analyst Ratings Changes

APLE has been the topic of a number of recent research reports. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $18.00 in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.