Apple Hospitality REIT Inc (NYSE:APLE) – Research analysts at B. Riley lowered their FY2019 EPS estimates for shares of Apple Hospitality REIT in a research report issued to clients and investors on Wednesday, November 6th. B. Riley analyst B. Maher now expects that the real estate investment trust will earn $1.66 per share for the year, down from their previous estimate of $1.68. B. Riley also issued estimates for Apple Hospitality REIT’s Q4 2019 earnings at $0.34 EPS, Q3 2020 earnings at $0.45 EPS, FY2020 earnings at $1.68 EPS and FY2021 earnings at $1.70 EPS.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.24). The business had revenue of $331.72 million during the quarter, compared to analysts’ expectations of $328.85 million. Apple Hospitality REIT had a net margin of 14.20% and a return on equity of 5.37%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Wells Fargo & Co upped their price objective on shares of Apple Hospitality REIT from $15.00 to $15.50 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Barclays upgraded shares of Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price objective for the company in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.13.
Apple Hospitality REIT stock traded down $0.04 during trading hours on Friday, reaching $16.37. 956,632 shares of the stock were exchanged, compared to its average volume of 1,177,040. The stock has a market cap of $3.73 billion, a P/E ratio of 9.52, a P/E/G ratio of 2.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.04 and a current ratio of 0.38. Apple Hospitality REIT has a 52-week low of $13.81 and a 52-week high of $16.90. The firm’s 50 day moving average is $16.34 and its 200 day moving average is $16.01.
The business also recently declared a monthly dividend, which will be paid on Monday, November 18th. Stockholders of record on Monday, November 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.33%. Apple Hospitality REIT’s dividend payout ratio is presently 69.77%.
In related news, Director Redd Hugh purchased 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.55 per share, for a total transaction of $31,100.00. Following the acquisition, the director now directly owns 95,154 shares of the company’s stock, valued at approximately $1,479,644.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in APLE. Commonwealth Equity Services LLC grew its stake in Apple Hospitality REIT by 63.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 55,015 shares of the real estate investment trust’s stock valued at $872,000 after acquiring an additional 21,334 shares during the last quarter. First Trust Advisors LP boosted its holdings in Apple Hospitality REIT by 16.6% in the second quarter. First Trust Advisors LP now owns 964,097 shares of the real estate investment trust’s stock worth $15,291,000 after purchasing an additional 137,223 shares during the period. National Asset Management Inc. boosted its holdings in Apple Hospitality REIT by 11.5% in the second quarter. National Asset Management Inc. now owns 42,487 shares of the real estate investment trust’s stock worth $674,000 after purchasing an additional 4,369 shares during the period. Schroder Investment Management Group boosted its holdings in Apple Hospitality REIT by 175.0% in the second quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock worth $75,683,000 after purchasing an additional 3,036,672 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Apple Hospitality REIT by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,246,620 shares of the real estate investment trust’s stock worth $51,492,000 after purchasing an additional 31,274 shares during the period. Institutional investors and hedge funds own 59.19% of the company’s stock.
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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