New York Life Investment Management LLC Has $352,000 Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

New York Life Investment Management LLC trimmed its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLEFree Report) by 13.6% in the third quarter, HoldingsChannel.com reports. The fund owned 22,941 shares of the real estate investment trust’s stock after selling 3,614 shares during the period. New York Life Investment Management LLC’s holdings in Apple Hospitality REIT were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of APLE. Raymond James & Associates lifted its stake in shares of Apple Hospitality REIT by 11.8% during the 1st quarter. Raymond James & Associates now owns 99,450 shares of the real estate investment trust’s stock valued at $1,787,000 after buying an additional 10,534 shares in the last quarter. US Bancorp DE boosted its position in shares of Apple Hospitality REIT by 67.6% during the 1st quarter. US Bancorp DE now owns 7,542 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 3,043 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Apple Hospitality REIT in the first quarter worth approximately $366,000. Acadian Asset Management LLC purchased a new stake in Apple Hospitality REIT in the first quarter valued at approximately $25,000. Finally, MetLife Investment Management LLC lifted its position in Apple Hospitality REIT by 55.0% during the first quarter. MetLife Investment Management LLC now owns 113,977 shares of the real estate investment trust’s stock valued at $2,048,000 after purchasing an additional 40,438 shares during the last quarter. Hedge funds and other institutional investors own 80.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $19.00 to $18.00 in a research note on Monday, January 8th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Sunday, November 12th. Finally, Wells Fargo & Company increased their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.17.

Get Our Latest Stock Analysis on Apple Hospitality REIT

Apple Hospitality REIT Stock Up 0.6 %

Shares of Apple Hospitality REIT stock opened at $16.22 on Tuesday. Apple Hospitality REIT, Inc. has a 12-month low of $13.66 and a 12-month high of $17.90. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $16.61 and its two-hundred day simple moving average is $15.97. The company has a market cap of $3.71 billion, a P/E ratio of 23.17 and a beta of 1.09.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Tuesday, January 30th. Apple Hospitality REIT’s dividend payout ratio is currently 137.14%.

About Apple Hospitality REIT

(Free Report)

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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Institutional Ownership by Quarter for Apple Hospitality REIT (NYSE:APLE)

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