Nuveen Asset Management LLC Sells 287,824 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Nuveen Asset Management LLC lessened its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 6.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of APLE. Summit Investment Advisors Inc. boosted its position in shares of Apple Hospitality REIT by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 23,850 shares of the real estate investment trust's stock valued at $366,000 after acquiring an additional 755 shares during the period. Quadrant Capital Group LLC grew its position in shares of 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 purchasing an additional 1,128 shares in the last quarter. Inspire Advisors LLC grew its position in shares of Apple Hospitality REIT by 8.5% during the 4th quarter. Inspire Advisors LLC now owns 14,502 shares of the real estate investment trust's stock valued at $223,000 after purchasing an additional 1,137 shares in the last quarter. Keybank National Association OH increased its holdings in shares of Apple Hospitality REIT by 3.1% in the fourth quarter. Keybank National Association OH now owns 40,163 shares of the real estate investment trust's stock worth $617,000 after purchasing an additional 1,218 shares during the period. Finally, Hudson Edge Investment Partners Inc. increased its holdings in shares of Apple Hospitality REIT by 4.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 27,079 shares of the real estate investment trust's stock worth $416,000 after purchasing an additional 1,272 shares during the period. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE traded down $0.01 during trading hours on Thursday, reaching $11.59. 3,089,919 shares of the stock traded hands, compared to its average volume of 2,261,914. The company's 50-day simple moving average is $12.10 and its two-hundred day simple moving average is $14.20. The company has a market capitalization of $2.76 billion, a P/E ratio of 13.63 and a beta of 1.07. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The company had revenue of $327.70 million during the quarter, compared to analysts' expectations of $332.86 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. Equities research analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current 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 paid a $0.08 dividend. This represents a dividend yield of 8.3%. The ex-dividend date is Friday, May 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 121.52%.

Wall Street Analysts Forecast Growth

APLE has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Bank of America raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $16.80.

Insider Activity at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 10,000 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was acquired 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 of the company's stock, valued at approximately $8,004,931.92. This represents a 1.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 12,000 shares of company stock worth $137,120 in the last ninety days. 7.10% of the stock is 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.