Mirae Asset Global Investments Co. Ltd. Sells 3,277 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Apple Hospitality REIT, Inc. (NYSE:APLE) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,985 shares of the real estate investment trust’s stock after selling 3,277 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Apple Hospitality REIT were worth $123,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in Apple Hospitality REIT by 11.9% during the 3rd quarter. Victory Capital Management Inc. now owns 6,737,959 shares of the real estate investment trust’s stock worth $100,059,000 after acquiring an additional 718,844 shares during the last quarter. Geode Capital Management LLC boosted its stake in Apple Hospitality REIT by 1.1% in 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 purchasing an additional 62,149 shares in the last quarter. JPMorgan Chase & Co. grew 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 purchasing an additional 18,858 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Apple Hospitality REIT by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after buying an additional 182,917 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Apple Hospitality REIT by 11.0% in the third quarter. Systematic Financial Management LP now owns 2,099,877 shares of the real estate investment trust’s stock valued at $31,183,000 after buying an additional 207,256 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $15.26 on Friday. The firm’s 50 day moving average price is $15.39 and its two-hundred day moving average price is $15.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $16.99. The stock has a market cap of $3.66 billion, a PE ratio of 17.95 and a beta of 1.13.

Apple Hospitality REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.29%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 112.94%.

Analysts Set New Price Targets

APLE has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $17.00 in a research note on Monday, January 27th. 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 for the company. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.60.

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.