Apple Hospitality REIT Inc (NYSE:APLE) – Analysts at Capital One Financial dropped their FY2019 earnings estimates for Apple Hospitality REIT in a report released on Thursday, August 8th. Capital One Financial analyst N. Malkin now anticipates that the real estate investment trust will earn $1.66 per share for the year, down from their prior forecast of $1.67. Capital One Financial currently has a “Equal Weight” rating and a $17.00 target price on the stock. Capital One Financial also issued estimates for Apple Hospitality REIT’s Q4 2019 earnings at $0.33 EPS and Q4 2020 earnings at $0.33 EPS.
APLE has been the subject of several other reports. Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday. ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research cut Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Apple Hospitality REIT presently has an average rating of “Hold” and an average price target of $18.25.
NYSE:APLE opened at $15.75 on Monday. The firm has a market cap of $3.53 billion, a PE ratio of 9.16, a P/E/G ratio of 1.86 and a beta of 0.82. The business’s 50 day moving average price is $15.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 1-year low of $13.81 and a 1-year high of $17.99.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The business had revenue of $341.12 million during the quarter, compared to analysts’ expectations of $340.44 million. Apple Hospitality REIT had a return on equity of 5.75% and a net margin of 15.44%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Apple Hospitality REIT by 6.5% during the 1st quarter. BlackRock Inc. now owns 17,555,764 shares of the real estate investment trust’s stock valued at $286,160,000 after acquiring an additional 1,063,975 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Apple Hospitality REIT by 8.4% during the 2nd quarter. Prudential Financial Inc. now owns 4,786,671 shares of the real estate investment trust’s stock valued at $75,917,000 after acquiring an additional 369,771 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Apple Hospitality REIT by 175.0% during the 2nd quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock valued at $75,683,000 after acquiring an additional 3,036,672 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Apple Hospitality REIT by 19.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,076,488 shares of the real estate investment trust’s stock valued at $64,653,000 after acquiring an additional 668,400 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Apple Hospitality REIT by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,552,907 shares of the real estate investment trust’s stock valued at $50,663,000 after acquiring an additional 70,176 shares in the last quarter. Institutional investors own 56.90% of the company’s stock.
In other Apple Hospitality REIT news, Director Redd Hugh purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the purchase, the director now owns 92,154 shares in the company, valued at approximately $1,463,405.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $15.39 per share, for a total transaction of $76,950.00. Following the purchase, the insider now owns 10,133,812 shares in the company, valued at approximately $155,959,366.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 12,000 shares of company stock worth $190,810. Corporate insiders own 6.50% of the company’s stock.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, August 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 7.62%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 69.77%.
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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