Victory Capital Management Inc. Trims Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Victory Capital Management Inc. decreased its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,230,417 shares of the real estate investment trust’s stock after selling 95,235 shares during the period. Victory Capital Management Inc. owned 2.29% of Apple Hospitality REIT worth $86,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of APLE. Public Sector Pension Investment Board purchased a new stake in Apple Hospitality REIT during the 3rd quarter valued at $4,034,000. Vanguard Group Inc. grew its holdings in Apple Hospitality REIT by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 35,369,907 shares of the real estate investment trust’s stock worth $542,574,000 after acquiring an additional 2,476,241 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Apple Hospitality REIT by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 310,624 shares of the real estate investment trust’s stock valued at $5,159,000 after purchasing an additional 150,965 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Apple Hospitality REIT by 8.3% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 250,566 shares of the real estate investment trust’s stock valued at $4,162,000 after purchasing an additional 19,309 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Apple Hospitality REIT by 17.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,375,459 shares of the real estate investment trust’s stock worth $51,746,000 after purchasing an additional 502,472 shares during the period. Institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on APLE shares. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and cut their price objective for the company from $19.00 to $18.00 in a report on Monday, January 8th. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.40.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $14.68 on Friday. Apple Hospitality REIT, Inc. has a 12-month low of $14.22 and a 12-month high of $17.90. The firm’s fifty day simple moving average is $15.94 and its two-hundred day simple moving average is $16.23. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.56 billion, a P/E ratio of 18.82 and a beta of 1.10.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.54%. The ex-dividend date is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio is currently 123.08%.

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.