Nuveen Asset Management LLC grew its holdings in Apple Hospitality REIT, Inc. (NYSE:APLE - Get Rating) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,729,852 shares of the real estate investment trust's stock after acquiring an additional 135,689 shares during the quarter. Nuveen Asset Management LLC owned 0.76% of Apple Hospitality REIT worth $24,321,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Apple Hospitality REIT by 1.4% in the first quarter. Vanguard Group Inc. now owns 33,258,207 shares of the real estate investment trust's stock valued at $597,649,000 after acquiring an additional 452,722 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Apple Hospitality REIT by 4.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 15,952,807 shares of the real estate investment trust's stock valued at $234,028,000 after purchasing an additional 718,297 shares in the last quarter. State Street Corp raised its stake in shares of Apple Hospitality REIT by 0.5% in the second quarter. State Street Corp now owns 10,438,176 shares of the real estate investment trust's stock valued at $153,128,000 after purchasing an additional 49,411 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Apple Hospitality REIT by 37.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,480,292 shares of the real estate investment trust's stock valued at $80,511,000 after purchasing an additional 1,215,575 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Apple Hospitality REIT by 14.4% in the second quarter. Deutsche Bank AG now owns 4,040,823 shares of the real estate investment trust's stock valued at $59,279,000 after purchasing an additional 507,544 shares in the last quarter. 79.39% of the stock is owned by institutional investors.
Apple Hospitality REIT stock opened at $16.83 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.03 and a quick ratio of 0.03. The stock has a fifty day moving average price of $16.76 and a two-hundred day moving average price of $16.29. Apple Hospitality REIT, Inc. has a 52-week low of $13.79 and a 52-week high of $18.69. The firm has a market capitalization of $3.85 billion, a P/E ratio of 26.30, a P/E/G ratio of 0.38 and a beta of 1.17.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, February 27th. This represents a $0.96 annualized dividend and a yield of 5.70%. Apple Hospitality REIT's dividend payout ratio is currently 150.00%.
A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, February 2nd. StockNews.com upgraded Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.75.
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm's stock in a transaction dated Monday, February 27th. The shares were bought at an average price of $16.90 per share, for a total transaction of $84,500.00. Following the completion of the acquisition, the chairman now owns 503,093 shares of the company's stock, valued at $8,502,271.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company's stock.
Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.
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