Apple Hospitality REIT Inc (APLE) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Apple Hospitality REIT Inc (NYSE:APLE) by 29.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 414,000 shares of the real estate investment trust’s stock after selling 172,954 shares during the quarter. New York State Common Retirement Fund’s holdings in Apple Hospitality REIT were worth $5,904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of APLE. Prudential Financial Inc. lifted its holdings in shares of Apple Hospitality REIT by 90.4% during the fourth quarter. Prudential Financial Inc. now owns 4,761,216 shares of the real estate investment trust’s stock worth $67,895,000 after buying an additional 2,260,421 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in shares of Apple Hospitality REIT by 84.6% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,716,208 shares of the real estate investment trust’s stock worth $38,733,000 after buying an additional 1,244,842 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Apple Hospitality REIT by 47.9% during the third quarter. Renaissance Technologies LLC now owns 2,420,300 shares of the real estate investment trust’s stock worth $42,331,000 after buying an additional 783,900 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Apple Hospitality REIT during the third quarter worth approximately $8,563,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Apple Hospitality REIT by 107.3% during the third quarter. JPMorgan Chase & Co. now owns 658,284 shares of the real estate investment trust’s stock worth $11,513,000 after buying an additional 340,701 shares during the last quarter. Institutional investors own 55.05% of the company’s stock.

Shares of NYSE APLE opened at $16.48 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $3.68 billion, a P/E ratio of 9.56, a PEG ratio of 1.96 and a beta of 0.87. Apple Hospitality REIT Inc has a one year low of $13.81 and a one year high of $19.28.

The company also recently announced a monthly dividend, which will be paid on Monday, March 18th. Investors of record on Tuesday, March 5th will be paid a $0.10 dividend. The ex-dividend date is Monday, March 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.28%.

In related news, insider Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was purchased at an average cost of $16.54 per share, for a total transaction of $82,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daryl Arthur Nickel acquired 24,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $16.44 per share, with a total value of $394,560.00. The disclosure for this purchase can be found here. Insiders purchased 30,000 shares of company stock valued at $493,640 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.

APLE has been the subject of a number of recent research reports. Barclays restated a “hold” rating and issued a $18.00 target price on shares of Apple Hospitality REIT in a research note on Sunday, February 10th. TheStreet lowered Apple Hospitality REIT from a “b-” rating to a “c+” rating in a research note on Thursday, January 3rd. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, ValuEngine lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.67.

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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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

Read More: Understanding each part of a balance sheet

Want to see what other hedge funds are holding APLE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Hospitality REIT Inc (NYSE:APLE).

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

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