Apple Hospitality REIT, Inc. $APLE Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 244,140 shares of the real estate investment trust’s stock after buying an additional 3,048 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Apple Hospitality REIT were worth $2,849,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in APLE. Nuveen LLC acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth approximately $40,841,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth approximately $9,055,000. Victory Capital Management Inc. raised its stake in shares of Apple Hospitality REIT by 9.4% during the 1st quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust’s stock worth $95,552,000 after buying an additional 633,688 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Apple Hospitality REIT by 59.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust’s stock worth $18,753,000 after buying an additional 540,957 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Apple Hospitality REIT during the 1st quarter worth approximately $6,254,000. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Down 0.5%

Shares of APLE opened at $11.39 on Friday. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50. The company has a market capitalization of $2.70 billion, a PE ratio of 15.19 and a beta of 1.02. The stock has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $12.00. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%.The business had revenue of $384.37 million during the quarter, compared to the consensus estimate of $381.37 million. As a group, equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 8.4%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 128.00%.

Wall Street Analysts Forecast Growth

APLE has been the subject of several research analyst reports. Robert W. Baird reduced their target price on Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday. Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a research report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price for the company. Finally, Wells Fargo & Company upgraded shares of Apple Hospitality REIT to a “hold” rating in a research report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.50.

Insider Activity

In related news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The stock was acquired at an average cost of $12.29 per share, with a total value of $61,450.00. Following the purchase, the chairman directly owned 705,344 shares of the company’s stock, valued at $8,668,677.76. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.10% of the stock is owned by company insiders.

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.