Apple Hospitality REIT, Inc. (NYSE:APLE) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its position in Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 17.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 735,360 shares of the real estate investment trust's stock after selling 159,780 shares during the period. Bank of America Corp DE owned approximately 0.31% of Apple Hospitality REIT worth $11,288,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Apple Hospitality REIT during the fourth quarter valued at approximately $21,099,000. Charles Schwab Investment Management Inc. grew its stake in shares of Apple Hospitality REIT by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,590,568 shares of the real estate investment trust's stock worth $70,465,000 after purchasing an additional 133,505 shares during the period. Martingale Asset Management L P increased its holdings in shares of 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 valued at $1,468,000 after purchasing an additional 54,661 shares in the last quarter. Barclays PLC increased its holdings in shares of 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 valued at $6,273,000 after purchasing an additional 229,293 shares in the last quarter. Finally, 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 period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

Apple Hospitality REIT Price Performance

NYSE:APLE traded up $0.07 during trading hours on Thursday, reaching $11.86. 2,834,178 shares of the company were exchanged, compared to its average volume of 2,269,565. 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 firm has a market cap of $2.82 billion, a PE ratio of 13.95 and a beta of 1.07. Apple Hospitality REIT, Inc. has a twelve month low of $10.44 and a twelve month high of $16.50. The stock's 50-day moving average is $11.88 and its 200-day moving average is $14.05.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $327.70 million for the quarter, compared to analyst estimates of $332.86 million. On average, sell-side analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently declared a may 25 dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.08 per share. This represents a dividend yield of 8.3%. The ex-dividend date of this dividend is Friday, May 30th. Apple Hospitality REIT's payout ratio is 121.52%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.80.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 10,000 shares of the company's stock in a transaction that occurred on 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 purchase, the chairman now owns 700,344 shares in the company, valued at approximately $8,004,931.92. The trade was a 1.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders bought 12,000 shares of company stock valued at $137,120. 7.10% of the stock is owned by insiders.

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.