Allspring Global Investments Holdings LLC Sells 12,119 Shares of Apple Hospitality REIT, Inc. (NYSE:APLE)

Allspring Global Investments Holdings LLC trimmed its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 33.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,663 shares of the real estate investment trust’s stock after selling 12,119 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Apple Hospitality REIT were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in APLE. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apple Hospitality REIT by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,457,063 shares of the real estate investment trust’s stock valued at $66,187,000 after purchasing an additional 182,917 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Apple Hospitality REIT during the third quarter valued at approximately $1,067,000. 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 valued at $6,273,000 after acquiring an additional 229,293 shares in the last quarter. Foundry Partners LLC raised its holdings in Apple Hospitality REIT by 29.6% in the 3rd quarter. Foundry Partners LLC now owns 474,672 shares of the real estate investment trust’s stock worth $7,049,000 after acquiring an additional 108,523 shares during the last quarter. Finally, KBC Group NV lifted its position in Apple Hospitality REIT by 37.8% in the 4th quarter. KBC Group NV now owns 9,257 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,541 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. BMO Capital Markets began coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target for the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Wells Fargo & Company reduced their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $17.00 in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.80.

Apple Hospitality REIT Trading Down 1.5 %

Apple Hospitality REIT stock opened at $14.41 on Wednesday. Apple Hospitality REIT, Inc. has a 52-week low of $13.60 and a 52-week high of $16.99. The company has a market cap of $3.46 billion, a P/E ratio of 16.95 and a beta of 1.13. 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 business has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $15.13.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) 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 company had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. Analysts predict that Apple Hospitality REIT, Inc. will post 1.6 EPS for the current year.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.96 dividend on an annualized basis and a yield of 6.66%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

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.