Nuveen LLC Purchases Shares of 3,163,508 Apple Hospitality REIT, Inc. $APLE

Key Points

• Nuveen LLC has invested approximately $40.84 million in Apple Hospitality REIT, acquiring over 3 million shares, which represents about 1.33% of the company.
• Wall Street analysts have downgraded Apple Hospitality REIT's stock rating from "outperform" to "market perform," lowering the target price from $14.00 to $12.00.
• Apple Hospitality REIT recently announced a dividend of $0.08 per share, despite having a payout ratio of 128.00%.

Nuveen LLC purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,163,508 shares of the real estate investment trust's stock, valued at approximately $40,841,000. Nuveen LLC owned approximately 1.33% of Apple Hospitality REIT at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of APLE. Wells Fargo & Company MN increased its stake in shares of Apple Hospitality REIT by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 174,653 shares of the real estate investment trust's stock worth $2,681,000 after purchasing an additional 40,037 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Apple Hospitality REIT by 7.6% during the fourth quarter. Russell Investments Group Ltd. now owns 178,630 shares of the real estate investment trust's stock valued at $2,742,000 after buying an additional 12,546 shares during the period. Cerity Partners LLC lifted its position in shares of Apple Hospitality REIT by 87.2% during the fourth quarter. Cerity Partners LLC now owns 39,928 shares of the real estate investment trust's stock valued at $608,000 after buying an additional 18,601 shares during the last quarter. Bank of Montreal Can grew its position in Apple Hospitality REIT by 6.1% during the 4th quarter. Bank of Montreal Can now owns 100,478 shares of the real estate investment trust's stock worth $1,542,000 after purchasing an additional 5,783 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Apple Hospitality REIT during the 4th quarter valued at about $3,844,000. Institutional investors own 89.66% of the company's stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets downgraded shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $14.00 to $12.00 in a research note on Monday, June 9th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.75.

Apple Hospitality REIT Stock Down 0.1%

NYSE APLE traded down $0.0150 on Thursday, reaching $12.3150. The company had a trading volume of 342,634 shares, compared to its average volume of 2,841,496. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The firm has a 50-day moving average of $12.03 and a 200-day moving average of $12.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $2.92 billion, a PE ratio of 16.41 and a beta of 1.08.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 EPS for the quarter, hitting analysts' consensus estimates of $0.47. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The firm had revenue of $384.37 million during the quarter, compared to the consensus estimate of $381.37 million. On average, equities research analysts anticipate that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced a aug 25 dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a dividend of $0.08 per share. This represents a yield of 780.0%. The ex-dividend date is Friday, August 29th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 128.00%.

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.