Nuveen Asset Management LLC Reduces Stock Position in Apple Hospitality REIT, Inc. (NYSE:APLE)

Nuveen Asset Management LLC lessened its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,855,989 shares of the real estate investment trust's stock after selling 287,824 shares during the quarter. Nuveen Asset Management LLC owned about 1.61% of Apple Hospitality REIT worth $59,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in Apple Hospitality REIT during the 4th quarter valued at approximately $31,000. Quarry LP grew its holdings in Apple Hospitality REIT by 128.1% during the 4th quarter. Quarry LP now owns 3,118 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,751 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Apple Hospitality REIT during the 4th quarter valued at approximately $51,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Apple Hospitality REIT during the 4th quarter valued at approximately $92,000. Finally, Quadrant Capital Group LLC grew its holdings in Apple Hospitality REIT by 20.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,740 shares of the real estate investment trust's stock valued at $104,000 after buying an additional 1,128 shares in the last quarter. Institutional investors own 89.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on APLE shares. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their price target for the company from $16.00 to $17.00 in a report on Monday, January 27th. Wells Fargo & Company cut their price target on 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.80.

Apple Hospitality REIT Trading Down 1.1%

Shares of Apple Hospitality REIT stock traded down $0.13 on Friday, reaching $11.45. The company had a trading volume of 2,426,978 shares, compared to its average volume of 2,267,081. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 13.47 and a beta of 1.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The firm's 50-day moving average price is $12.02 and its two-hundred day moving average price is $14.15. 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 earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. The firm had revenue of $327.70 million during the quarter, compared to analysts' expectations of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. As a group, research analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a may 25 dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.08 dividend. This represents a dividend yield of 8.3%. The ex-dividend date of this dividend is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is 121.52%.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 10,000 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $11.43 per share, for a total transaction of $114,300.00. Following the acquisition, the chairman now owns 700,344 shares in the company, valued at $8,004,931.92. This trade represents a 1.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders purchased 12,000 shares of company stock worth $137,120. 7.10% of the stock is currently owned by company insiders.

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.