State of New Jersey Common Pension Fund D lifted its stake in Apple Hospitality REIT, Inc. (NYSE:APLE – Free Report) by 12.1% in the 3rd quarter, Holdings Channel reports. The firm owned 356,888 shares of the real estate investment trust’s stock after purchasing an additional 38,500 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Apple Hospitality REIT were worth $5,475,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in APLE. Campbell & CO Investment Adviser LLC raised its position in Apple Hospitality REIT by 48.4% during the third quarter. Campbell & CO Investment Adviser LLC now owns 62,894 shares of the real estate investment trust’s stock worth $965,000 after acquiring an additional 20,507 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Apple Hospitality REIT during the third quarter worth about $203,000. Van ECK Associates Corp raised its position in Apple Hospitality REIT by 4.3% during the third quarter. Van ECK Associates Corp now owns 25,254 shares of the real estate investment trust’s stock worth $387,000 after acquiring an additional 1,046 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Apple Hospitality REIT by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,134,029 shares of the real estate investment trust’s stock worth $63,416,000 after acquiring an additional 45,582 shares during the last quarter. Finally, Swiss National Bank raised its position in Apple Hospitality REIT by 0.8% during the third quarter. Swiss National Bank now owns 478,210 shares of the real estate investment trust’s stock worth $7,336,000 after acquiring an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 80.53% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on APLE. Wells Fargo & Company lifted their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 22nd. Bank of America cut shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and cut their target price for the stock from $19.00 to $18.00 in a research report on Monday, January 8th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Sunday, November 12th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.17.
Apple Hospitality REIT Stock Performance
NYSE:APLE opened at $16.22 on Tuesday. Apple Hospitality REIT, Inc. has a 1-year low of $13.66 and a 1-year high of $17.90. The firm has a 50 day simple moving average of $16.61 and a 200-day simple moving average of $15.97. The firm has a market cap of $3.71 billion, a PE ratio of 23.17 and a beta of 1.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.92 and a quick ratio of 0.92.
Apple Hospitality REIT Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.96 dividend on an annualized basis and a yield of 5.92%. Apple Hospitality REIT’s payout ratio is 137.14%.
Apple Hospitality REIT Company 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.
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