Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 3.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 243,436 shares of the real estate investment trust’s stock after selling 7,911 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.10% of Apple Hospitality REIT worth $3,615,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. EdgeRock Capital LLC acquired a new position in shares of Apple Hospitality REIT in the second quarter worth $26,000. Quarry LP grew its position in shares of Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares during the last quarter. Covestor Ltd grew its position in shares of Apple Hospitality REIT by 115.6% in the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,313 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 5,420 shares during the period. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $15.53 on Tuesday. The firm has a fifty day moving average of $15.04 and a two-hundred day moving average of $14.66. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 18.26 and a beta of 1.11. Apple Hospitality REIT, Inc. has a 52 week low of $13.60 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend was Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on APLE. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company reduced their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.50.

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.