Sumitomo Mitsui DS Asset Management Company Ltd Buys 4,694 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 14.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,103 shares of the real estate investment trust’s stock after buying an additional 4,694 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Apple Hospitality REIT were worth $616,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Apple Hospitality REIT by 0.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,845 shares of the real estate investment trust’s stock valued at $1,578,000 after acquiring an additional 674 shares during the period. Blue Trust Inc. grew its stake in shares of Apple Hospitality REIT by 11.9% during the 4th quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 734 shares during the period. Arizona State Retirement System grew its stake in shares of Apple Hospitality REIT by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 61,947 shares of the real estate investment trust’s stock valued at $950,000 after acquiring an additional 749 shares during the period. abrdn plc grew its stake in shares of Apple Hospitality REIT by 2.3% during the 3rd quarter. abrdn plc now owns 45,164 shares of the real estate investment trust’s stock valued at $693,000 after acquiring an additional 1,004 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Apple Hospitality REIT by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 25,254 shares of the real estate investment trust’s stock valued at $387,000 after acquiring an additional 1,046 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

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

Apple Hospitality REIT Stock Down 1.8 %

NYSE APLE opened at $15.00 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $3.63 billion, a P/E ratio of 19.22 and a beta of 1.08. Apple Hospitality REIT, Inc. has a one year low of $14.22 and a one year high of $17.90. The stock has a 50 day moving average price of $16.11 and a 200-day moving average price of $16.27.

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 given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.40%. Apple Hospitality REIT’s dividend payout ratio is currently 123.08%.

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.