State of New Jersey Common Pension Fund D Lowers Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

State of New Jersey Common Pension Fund D reduced its position in Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 342,663 shares of the real estate investment trust’s stock after selling 14,225 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.15% of Apple Hospitality REIT worth $5,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in APLE. Mirae Asset Global Investments Co. Ltd. lifted its position in Apple Hospitality REIT by 0.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 102,845 shares of the real estate investment trust’s stock valued at $1,578,000 after acquiring an additional 674 shares in the last quarter. Blue Trust Inc. lifted its stake in Apple Hospitality REIT by 11.9% in the fourth quarter. Blue Trust Inc. now owns 6,927 shares of the real estate investment trust’s stock worth $106,000 after purchasing an additional 734 shares during the last quarter. Arizona State Retirement System increased its position in shares of Apple Hospitality REIT by 1.2% during the third quarter. Arizona State Retirement System now owns 61,947 shares of the real estate investment trust’s stock worth $950,000 after acquiring an additional 749 shares during the period. abrdn plc increased its holdings in Apple Hospitality REIT by 2.3% during the third quarter. abrdn plc now owns 45,164 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 1,004 shares during the period. Finally, Van ECK Associates Corp increased its holdings 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 valued at $387,000 after buying an additional 1,046 shares during the period. 89.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

APLE has been the subject of a number of research reports. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $18.00 in a report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average price target of $18.40.

Apple Hospitality REIT Stock Down 0.1 %

Shares of APLE stock traded down $0.01 on Friday, hitting $14.99. The stock had a trading volume of 2,319,100 shares, compared to its average volume of 1,889,548. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 19.23 and a beta of 1.08. The stock’s 50 day moving average is $16.09 and its 200-day moving average is $16.26. 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, Inc. has a 52-week low of $14.22 and a 52-week high of $17.90.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.08 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.40%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 123.08%.

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.