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Public Sector Pension Investment Board acquired a new stake in shares of Apple Hospitality REIT, Inc. (NYSE: APLE – Free Report) during the third quarter, according to information in the company’s latest Form 13F filed with the SEC. The institutional investor purchased 262,996 shares of the real estate investment trust’s stock valued at approximately $4,034,000. As of the most recent filing with the SEC, the Public Sector Pension Investment Board held about 0.11% of Apple Hospitality REIT.
Other hedge funds and other institutional investors also changed their holdings in the company. Norges Bank purchased a new stake in shares of Apple Hospitality REIT during the fourth quarter worth approximately $37,208,000. State Street Corp raised its holdings in shares of Apple Hospitality REIT by 14.7% in the first quarter. State Street Bank now owns 10,388,765 shares of the real estate investment trust’s stock valued at $186,686,000 after purchasing an additional 1,331,707 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Apple Hospitality REIT by 37.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,480,292 shares of the real estate investment trust’s stock valued at $80,511,000 after purchasing an additional 1,215,575 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Apple Hospitality REIT by 19.9% in the third quarter. Principal Financial Group now owns 7,040,599 shares of the real estate investment trust’s stock valued at $108,003,000 after purchasing an additional 1,170,865 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Apple Hospitality REIT by 5.0% during the first quarter. BlackRock now owns 21,296,824 shares of the real estate investment trust’s stock valued at $330,527,000 after purchasing an additional 1,018,654 shares during the last quarter. Institutional investors hold 80.53% of the company’s shares.
Analysts set new price targets
Several analysts have recently issued reports on APLE stock. Wells Fargo & Company raised their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. Bank of America lowered shares of Apple Hotels Real Estate Investment Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $19.00 in a research note on Monday, January 8th. to $18.00. Finally, StockNews.com downgraded shares of Apple Hotels Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $18.17.
View our latest stock report on APLE
Apple Hotels REIT Stock Performance
NYSE:APLE opened at $16.31 on Friday. The company has a market capitalization of $3.94 billion, a P/E ratio of 20.91, and a beta of 1.08. The company’s 50-day simple moving average is $16.31 and its 200-day simple moving average is $16.17. Apple Hospitality REIT, Inc. has a one-year low of $13.66 and a one-year 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 announced that it will pay a monthly dividend on Friday, March 15th. Stockholders of record on Thursday, February 29th will be entitled to a dividend of $0.08 per share. This represents an annualized dividend of $0.96 and a dividend yield of 5.89%. The ex-dividend date for this dividend is Wednesday, February 28. Apple Hospitality REIT’s dividend payout ratio (DPR) currently stands at 123.08%.
About Apple Hotels Real Estate Investment Trust, Inc.
(free report)
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) with one of the largest and most diversified room-focused upscale hotel portfolios in the United States. Apple Hospitality’s portfolio includes 223 hotels with more than 29,400 rooms in 87 markets in 37 states, as well as one hotel leased to a third party.
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