Apple Hospitality REIT Inc (NYSE:APLE) – Investment analysts at B. Riley cut their Q2 2019 earnings per share estimates for Apple Hospitality REIT in a research note issued on Thursday, November 8th. B. Riley analyst B. Maher now expects that the real estate investment trust will earn $0.49 per share for the quarter, down from their prior estimate of $0.51. B. Riley has a “Buy” rating and a $20.00 price objective on the stock. B. Riley also issued estimates for Apple Hospitality REIT’s Q4 2019 earnings at $0.35 EPS, FY2019 earnings at $1.71 EPS and FY2020 earnings at $1.77 EPS.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.21). Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. The company had revenue of $332.20 million during the quarter, compared to analyst estimates of $340.17 million. During the same period in the prior year, the business posted $0.48 EPS. Apple Hospitality REIT’s revenue for the quarter was up 2.2% compared to the same quarter last year.
NYSE:APLE opened at $16.19 on Friday. Apple Hospitality REIT has a one year low of $15.67 and a one year high of $20.19. The company has a market capitalization of $3.71 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.89 and a beta of 0.69.
A number of hedge funds have recently bought and sold shares of the business. Ffcm LLC boosted its position in shares of Apple Hospitality REIT by 2,497.6% during the third quarter. Ffcm LLC now owns 33,613 shares of the real estate investment trust’s stock worth $588,000 after buying an additional 32,319 shares during the period. BlackRock Inc. boosted its position in shares of Apple Hospitality REIT by 0.9% during the third quarter. BlackRock Inc. now owns 15,932,503 shares of the real estate investment trust’s stock worth $278,660,000 after buying an additional 147,617 shares during the period. AXA boosted its position in shares of Apple Hospitality REIT by 13.6% during the third quarter. AXA now owns 669,314 shares of the real estate investment trust’s stock worth $11,706,000 after buying an additional 80,141 shares during the period. Alliancebernstein L.P. boosted its position in shares of Apple Hospitality REIT by 28.8% during the third quarter. Alliancebernstein L.P. now owns 648,207 shares of the real estate investment trust’s stock worth $11,337,000 after buying an additional 144,792 shares during the period. Finally, Commonwealth Bank of Australia boosted its position in shares of Apple Hospitality REIT by 298.1% during the third quarter. Commonwealth Bank of Australia now owns 36,593 shares of the real estate investment trust’s stock worth $639,000 after buying an additional 27,400 shares during the period. 57.15% of the stock is owned by institutional investors.
In other Apple Hospitality REIT news, Director Blythe J. Mcgarvie bought 11,500 shares of the business’s stock in a transaction on Monday, August 13th. The stock was bought at an average price of $17.32 per share, with a total value of $199,180.00. Following the completion of the purchase, the director now directly owns 9,744 shares in the company, valued at $168,766.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin G. Knight bought 6,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were acquired at an average cost of $17.65 per share, with a total value of $105,900.00. Following the purchase, the insider now owns 1,109,681 shares of the company’s stock, valued at $19,585,869.65. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 27,501 shares of company stock valued at $481,397. 6.30% of the stock is owned by insiders.
The firm also recently announced a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $1.20 annualized dividend and a yield of 7.41%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 68.97%.
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 30,700 guest rooms located in 88 markets throughout 34 states.
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