Sumitomo Mitsui DS Asset Management Company Ltd Acquires 6,277 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,598 shares of the real estate investment trust’s stock after purchasing an additional 6,277 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Apple Hospitality REIT were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of APLE. Econ Financial Services Corp acquired a new position in Apple Hospitality REIT during the fourth quarter worth $374,000. abrdn plc boosted its stake in shares of Apple Hospitality REIT by 48.6% during the 4th quarter. abrdn plc now owns 71,742 shares of the real estate investment trust’s stock worth $1,107,000 after acquiring an additional 23,456 shares in the last quarter. EMC Capital Management increased its holdings in shares of Apple Hospitality REIT by 44,346.3% during the 4th quarter. EMC Capital Management now owns 24,001 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 23,947 shares during the last quarter. United Asset Strategies Inc. raised its stake in shares of Apple Hospitality REIT by 12.1% in the 4th quarter. United Asset Strategies Inc. now owns 26,795 shares of the real estate investment trust’s stock valued at $411,000 after acquiring an additional 2,885 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 2,541 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on APLE shares. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $17.00 in a research note on Monday, January 27th. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $15.32 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT, Inc. has a one year low of $13.60 and a one year high of $16.99. The company has a fifty day moving average price of $15.43 and a 200 day moving average price of $15.08. The stock has a market cap of $3.67 billion, a P/E ratio of 18.02 and a beta of 1.13.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 31st will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, January 31st. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Apple Hospitality REIT 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.