Resona Asset Management Co. Ltd. Invests $1.38 Million in Apple Hospitality REIT, Inc. (NYSE:APLE)

Resona Asset Management Co. Ltd. bought a new position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 89,362 shares of the real estate investment trust's stock, valued at approximately $1,379,000.

Several other institutional investors and hedge funds also recently bought and sold shares of APLE. Brown Brothers Harriman & Co. purchased a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at approximately $51,000. GAMMA Investing LLC raised its position in Apple Hospitality REIT by 80.9% in the fourth quarter. GAMMA Investing LLC now owns 4,905 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 2,193 shares during the period. KBC Group NV lifted its stake in shares of Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 2,541 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Apple Hospitality REIT during the 4th quarter worth $159,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Apple Hospitality REIT during the 4th quarter worth about $167,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE traded up $0.19 during midday trading on Wednesday, reaching $11.69. 424,823 shares of the company were exchanged, compared to its average volume of 2,190,534. The stock has a fifty day simple moving average of $13.59 and a 200 day simple moving average of $14.77. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.79 billion, a P/E ratio of 13.75 and a beta of 1.00. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. On average, research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 8.22%. The ex-dividend date of this dividend was Monday, March 31st. Apple Hospitality REIT's payout ratio is 109.09%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APLE. Wells Fargo & Company decreased their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price target for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of "Moderate Buy" and a consensus target price of $16.80.

Apple Hospitality REIT Company 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.