Illinois Municipal Retirement Fund Takes Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Illinois Municipal Retirement Fund purchased a new position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 125,314 shares of the real estate investment trust's stock, valued at approximately $2,081,000. Illinois Municipal Retirement Fund owned approximately 0.05% of Apple Hospitality REIT at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APLE. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Apple Hospitality REIT by 14.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,103 shares of the real estate investment trust's stock valued at $616,000 after buying an additional 4,694 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in shares of Apple Hospitality REIT by 94.6% during the fourth 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 acquiring an additional 150,965 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Apple Hospitality REIT by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 517,350 shares of the real estate investment trust's stock valued at $8,593,000 after acquiring an additional 6,839 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Apple Hospitality REIT by 8.3% during the fourth 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 acquiring an additional 19,309 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Apple Hospitality REIT during the fourth quarter valued at approximately $1,769,000. Hedge funds and other institutional investors own 89.66% of the company's stock.

Wall Street Analysts Forecast Growth

APLE has been the subject of several research analyst reports. StockNews.com downgraded shares of Apple Hospitality REIT from a "hold" rating to a "sell" rating in a research note on Monday, February 26th. Bank of America downgraded shares of Apple Hospitality REIT from a "buy" rating to a "neutral" rating and decreased their price target for the company from $19.00 to $18.00 in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Apple Hospitality REIT has an average rating of "Hold" and a consensus target price of $18.40.

Apple Hospitality REIT Stock Down 0.1 %

NYSE:APLE traded down $0.01 during trading hours on Friday, reaching $14.99. The company's stock had a trading volume of 2,319,100 shares, compared to its average volume of 1,889,548. The company has a market capitalization of $3.63 billion, a P/E ratio of 19.22 and a beta of 1.08. Apple Hospitality REIT, Inc. has a 12 month low of $14.22 and a 12 month high of $17.90. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $16.09 and a two-hundred day moving average price of $16.26.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is 123.08%.

About Apple Hospitality REIT

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.