Nisa Investment Advisors LLC Sells 12,970 Shares of Apple Hospitality REIT, Inc. $APLE

Nisa Investment Advisors LLC lowered its holdings in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 18.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,940 shares of the real estate investment trust’s stock after selling 12,970 shares during the period. Nisa Investment Advisors LLC’s holdings in Apple Hospitality REIT were worth $693,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Apple Hospitality REIT by 444.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,280 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Apple Hospitality REIT in the 1st quarter worth $57,000. Security National Bank bought a new stake in Apple Hospitality REIT in the 2nd quarter worth $60,000. Finally, Quarry LP grew its holdings in Apple Hospitality REIT by 64.8% in the 1st quarter. Quarry LP now owns 5,137 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 2,019 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the purchase, the chairman directly owned 705,344 shares of the company’s stock, valued at $8,668,677.76. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 7.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an “overweight” rating and a $14.00 target price on the stock. Wells Fargo & Company raised shares of Apple Hospitality REIT to a “hold” rating in a research note on Friday, October 3rd. Robert W. Baird cut their target price on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Apple Hospitality REIT in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Moderate Buy” and an average price target of $14.50.

Apple Hospitality REIT Trading Down 1.9%

Shares of NYSE APLE opened at $11.19 on Friday. Apple Hospitality REIT, Inc. has a 1 year low of $10.44 and a 1 year high of $16.50. The stock has a market cap of $2.65 billion, a P/E ratio of 14.91 and a beta of 1.02. The firm has a 50-day moving average of $12.15 and a 200 day moving average of $12.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.78 and a quick ratio of 0.78.

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, meeting 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 company had revenue of $384.37 million during the quarter, compared to analysts’ expectations of $381.37 million. As a group, sell-side analysts expect that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current fiscal year.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, October 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a c) annualized dividend and a yield of 8.6%. Apple Hospitality REIT’s payout ratio is 128.00%.

Apple Hospitality REIT Company 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.