Geode Capital Management LLC Cuts Stock Holdings in Apple Hospitality REIT, Inc. (NYSE:APLE)

Geode Capital Management LLC decreased its stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,712,461 shares of the real estate investment trust's stock after selling 48,903 shares during the quarter. Geode Capital Management LLC owned approximately 2.38% of Apple Hospitality REIT worth $87,704,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. HighTower Advisors LLC purchased a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at approximately $200,000. MML Investors Services LLC lifted its position in Apple Hospitality REIT by 13.6% in the third quarter. MML Investors Services LLC now owns 71,039 shares of the real estate investment trust's stock valued at $1,055,000 after acquiring an additional 8,494 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Apple Hospitality REIT in the third quarter valued at $497,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Apple Hospitality REIT by 0.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 284,100 shares of the real estate investment trust's stock worth $4,219,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Apple Hospitality REIT by 118.8% during the third quarter. Barclays PLC now owns 422,361 shares of the real estate investment trust's stock worth $6,273,000 after purchasing an additional 229,293 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price target for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of "Moderate Buy" and an average target price of $16.80.

Apple Hospitality REIT Price Performance

NYSE APLE traded up $0.12 during mid-day trading on Wednesday, hitting $11.62. The stock had a trading volume of 329,698 shares, compared to its average volume of 2,190,203. The company has a 50 day simple moving average of $13.59 and a 200 day simple moving average of $14.77. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 13.63 and a beta of 1.00. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its earnings results on Monday, February 24th. 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 net margin of 14.53% and a return on equity of 6.17%. The firm had revenue of $333.04 million during the quarter, compared to the consensus estimate of $330.11 million. Equities analysts forecast that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.96 annualized dividend and a yield of 8.27%. Apple Hospitality REIT's payout ratio is currently 109.09%.

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.