Nuveen LLC Purchases Shares of 3,163,508 Apple Hospitality REIT, Inc. (NYSE:APLE)

Nuveen LLC purchased a new stake in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) in the 1st quarter, Holdings Channel.com reports. The firm purchased 3,163,508 shares of the real estate investment trust’s stock, valued at approximately $40,841,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APLE. Price T Rowe Associates Inc. MD boosted its holdings in shares of Apple Hospitality REIT by 27.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,239,061 shares of the real estate investment trust’s stock worth $126,472,000 after purchasing an additional 1,761,996 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 9.4% in the 1st quarter. Victory Capital Management Inc. now owns 7,401,428 shares of the real estate investment trust’s stock worth $95,552,000 after purchasing an additional 633,688 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Apple Hospitality REIT by 59.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,452,584 shares of the real estate investment trust’s stock worth $18,753,000 after purchasing an additional 540,957 shares during the period. Woodline Partners LP purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $5,898,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Apple Hospitality REIT in the 4th quarter worth approximately $5,451,000. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $14.00 to $12.00 in a report on Monday, June 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $15.75.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $12.17 on Friday. Apple Hospitality REIT, Inc. has a 52-week low of $10.44 and a 52-week high of $16.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $2.88 billion, a P/E ratio of 16.23 and a beta of 1.08. The stock has a 50 day moving average price of $12.00 and a 200 day moving average price of $12.65.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Apple Hospitality REIT had a return on equity of 5.58% and a net margin of 12.71%. The firm had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. As a group, sell-side analysts predict that Apple Hospitality REIT, Inc. will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a jul 25 dividend, which was paid on Friday, August 15th. Stockholders of record on Thursday, July 31st were given a $0.08 dividend. This represents a dividend yield of 770.0%. The ex-dividend date of this dividend was Thursday, July 31st. Apple Hospitality REIT’s payout ratio is presently 128.00%.

Apple Hospitality REIT 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.