Mitsubishi UFJ Asset Management Co. Ltd. Acquires 5,894 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 148,103 shares of the real estate investment trust’s stock after acquiring an additional 5,894 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.06% of Apple Hospitality REIT worth $2,245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of APLE. Victory Capital Management Inc. increased its stake in Apple Hospitality REIT by 0.4% during the 4th quarter. Victory Capital Management Inc. now owns 6,767,740 shares of the real estate investment trust’s stock worth $103,885,000 after purchasing an additional 29,781 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Apple Hospitality REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 5,761,364 shares of the real estate investment trust’s stock worth $85,571,000 after acquiring an additional 62,149 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Apple Hospitality REIT by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 5,243,575 shares of the real estate investment trust’s stock worth $77,867,000 after acquiring an additional 18,858 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Apple Hospitality REIT by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust’s stock valued at $70,465,000 after acquiring an additional 133,505 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in Apple Hospitality REIT by 11.0% in the 3rd quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock worth $31,183,000 after purchasing an additional 207,256 shares during the period. Institutional investors and hedge funds own 89.66% of the company’s stock.

Apple Hospitality REIT Trading Up 0.1 %

Shares of Apple Hospitality REIT stock opened at $12.93 on Wednesday. Apple Hospitality REIT, Inc. has a 12-month low of $12.65 and a 12-month high of $16.50. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $14.52 and its 200-day moving average is $15.05. The stock has a market cap of $3.10 billion, a P/E ratio of 15.21 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. Equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date is Monday, March 31st. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 109.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on APLE. Wells Fargo & Company cut their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price target for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research report on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Moderate Buy” and an average target price of $16.80.

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.