Apple Hospitality REIT Inc (NYSE:APLE) – Research analysts at B. Riley dropped their Q2 2020 earnings estimates for Apple Hospitality REIT in a report issued on Monday, March 23rd. B. Riley analyst B. Maher now expects that the real estate investment trust will post earnings per share of $0.18 for the quarter, down from their prior forecast of $0.48. B. Riley has a “Buy” rating and a $12.00 price objective on the stock. B. Riley also issued estimates for Apple Hospitality REIT’s FY2020 earnings at $1.11 EPS.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). The company had revenue of $289.97 million during the quarter, compared to analyst estimates of $288.45 million. Apple Hospitality REIT had a return on equity of 5.16% and a net margin of 13.57%.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday, March 12th. Janney Montgomery Scott started coverage on shares of Apple Hospitality REIT in a report on Monday, December 16th. They issued a “buy” rating and a $18.00 price target for the company. ValuEngine upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday. Barclays cut shares of Apple Hospitality REIT from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective for the company. in a report on Tuesday, March 17th. Finally, Capital One Financial upgraded shares of Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $17.00 to $14.00 in a report on Monday, March 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $14.40.
NYSE:APLE opened at $9.57 on Thursday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 12.43 and a beta of 0.86. The firm has a fifty day simple moving average of $12.11 and a two-hundred day simple moving average of $15.09. Apple Hospitality REIT has a 12 month low of $4.48 and a 12 month high of $16.88.
The firm also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.54%. The ex-dividend date was Tuesday, March 3rd. Apple Hospitality REIT’s dividend payout ratio is currently 73.62%.
In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average cost of $11.90 per share, for a total transaction of $59,500.00. Following the completion of the acquisition, the chairman now directly owns 10,211,968 shares of the company’s stock, valued at $121,522,419.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.50% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in Apple Hospitality REIT by 1,447.3% during the fourth quarter. Advisory Services Network LLC now owns 2,321 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 2,171 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Apple Hospitality REIT by 40.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,354 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 968 shares during the last quarter. AJO LP boosted its holdings in Apple Hospitality REIT by 70.2% during the fourth quarter. AJO LP now owns 4,054 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 1,672 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in Apple Hospitality REIT by 56.8% during the third quarter. Penserra Capital Management LLC now owns 4,664 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,689 shares during the last quarter. Finally, Pacitti Group Inc. purchased a new position in Apple Hospitality REIT during the third quarter worth about $119,000. Hedge funds and other institutional investors own 62.08% 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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