Apple Hospitality REIT Inc (NYSE:APLE) – B. Riley cut their Q1 2020 earnings estimates for shares of Apple Hospitality REIT in a report released on Monday, March 23rd. B. Riley analyst B. Maher now expects that the real estate investment trust will earn $0.32 per share for the quarter, down from their prior estimate of $0.37. B. Riley currently has a “Buy” rating and a $12.00 target price on the stock. B. Riley also issued estimates for Apple Hospitality REIT’s Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.28 EPS, Q1 2021 earnings at $0.33 EPS, Q2 2021 earnings at $0.40 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.30 EPS, FY2021 earnings at $1.43 EPS and FY2022 earnings at $1.47 EPS.
A number of other equities analysts have also recently weighed in on the company. Barclays cut Apple Hospitality REIT from an “overweight” rating to an “equal weight” rating and set a $10.00 price target for the company. in a report on Tuesday, March 17th. Janney Montgomery Scott began coverage on Apple Hospitality REIT in a report on Monday, December 16th. They set a “buy” rating and a $18.00 price target for the company. ValuEngine upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Capital One Financial upgraded Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $17.00 to $14.00 in a report on Monday, March 9th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Apple Hospitality REIT presently has an average rating of “Buy” and a consensus target price of $14.40.
NYSE APLE opened at $9.57 on Wednesday. The stock has a market cap of $2.07 billion, a PE ratio of 12.43 and a beta of 0.86. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. Apple Hospitality REIT has a twelve month low of $4.48 and a twelve month high of $16.88. The stock has a fifty day simple moving average of $12.11 and a 200-day simple moving average of $15.09.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). The business had revenue of $289.97 million for the quarter, compared to analysts’ expectations of $288.45 million. Apple Hospitality REIT had a return on equity of 5.16% and a net margin of 13.57%.
The company also recently announced a monthly dividend, which was paid on Monday, March 16th. Investors 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 yield of 12.54%. The ex-dividend date was Tuesday, March 3rd. Apple Hospitality REIT’s dividend payout ratio (DPR) is 73.62%.
In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $11.90 per share, for a total transaction of $59,500.00. Following the acquisition, the chairman now directly owns 10,211,968 shares of the company’s stock, valued at approximately $121,522,419.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new position in Apple Hospitality REIT during the 4th quarter valued at about $3,827,000. Advisory Services Network LLC boosted its stake in shares of Apple Hospitality REIT by 1,447.3% in the 4th quarter. Advisory Services Network LLC now owns 2,321 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 2,171 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Apple Hospitality REIT by 40.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,354 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 968 shares during the period. AJO LP boosted its stake in shares of Apple Hospitality REIT by 70.2% in the 4th quarter. AJO LP now owns 4,054 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 1,672 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in shares of Apple Hospitality REIT by 56.8% in the 3rd quarter. Penserra Capital Management LLC now owns 4,664 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 1,689 shares during the period. 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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