Ameriprise Financial Inc. Has $18.89 Million Stake in Apple Hospitality REIT, Inc. (NYSE:APLE)

Ameriprise Financial Inc. lowered its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,230,057 shares of the real estate investment trust's stock after selling 383,306 shares during the period. Ameriprise Financial Inc. owned about 0.51% of Apple Hospitality REIT worth $18,893,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Apple Hospitality REIT in the fourth quarter worth about $21,099,000. Charles Schwab Investment Management Inc. grew its position in shares of Apple Hospitality REIT by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock valued at $70,465,000 after purchasing an additional 133,505 shares during the period. Martingale Asset Management L P increased its stake in Apple Hospitality REIT by 133.4% during the 4th quarter. Martingale Asset Management L P now owns 95,642 shares of the real estate investment trust's stock worth $1,468,000 after purchasing an additional 54,661 shares in the last quarter. Barclays PLC raised its holdings in Apple Hospitality REIT by 118.8% during the 3rd quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust's stock worth $6,273,000 after buying an additional 229,293 shares during the period. Finally, KBC Group NV lifted its stake in Apple Hospitality REIT by 37.8% in the fourth quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust's stock valued at $142,000 after buying an additional 2,541 shares in the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight acquired 10,000 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $11.43 per share, with a total value of $114,300.00. Following the transaction, the chairman now directly owns 700,344 shares in the company, valued at approximately $8,004,931.92. The trade was a 1.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have purchased 12,000 shares of company stock valued at $137,120 in the last 90 days. 7.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on APLE shares. Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

Apple Hospitality REIT Stock Down 1.4%

APLE stock traded down $0.17 during midday trading on Monday, hitting $12.03. The company's stock had a trading volume of 1,375,789 shares, compared to its average volume of 2,254,098. The company's fifty day moving average price is $12.20 and its 200 day moving average price is $14.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The stock has a market capitalization of $2.86 billion, a P/E ratio of 14.15 and a beta of 1.07.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The company had revenue of $327.70 million during the quarter, compared to analysts' expectations of $332.86 million. As a group, equities research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.08 dividend. The ex-dividend date was Wednesday, April 30th. This represents a $0.96 dividend on an annualized basis and a yield of 7.98%. Apple Hospitality REIT's dividend payout ratio is 121.52%.

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.