Apple Hospitality REIT Inc (NYSE:APLE) Forecasted to Earn Q3 2019 Earnings of $0.46 Per Share

Apple Hospitality REIT Inc (NYSE:APLE) – Equities researchers at B. Riley dropped their Q3 2019 earnings estimates for Apple Hospitality REIT in a note issued to investors on Wednesday, August 7th. B. Riley analyst B. Maher now anticipates that the real estate investment trust will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.47. B. Riley also issued estimates for Apple Hospitality REIT’s Q1 2020 earnings at $0.38 EPS.

Several other analysts have also issued reports on APLE. ValuEngine upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Capital One Financial assumed coverage on shares of Apple Hospitality REIT in a research report on Tuesday, June 25th. They set an “equal weight” rating and a $17.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.25.

NYSE APLE opened at $15.39 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.04 and a quick ratio of 0.58. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.82. The stock’s 50 day moving average price is $15.63. 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 posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The business had revenue of $341.12 million for the quarter, compared to analyst estimates of $340.44 million. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Apple Hospitality REIT by 6.5% in 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 purchasing an additional 1,063,975 shares during the last quarter. Prudential Financial Inc. lifted its stake in Apple Hospitality REIT by 8.4% in 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 purchasing an additional 369,771 shares during the last quarter. Schroder Investment Management Group lifted its stake in Apple Hospitality REIT by 175.0% in 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 purchasing an additional 3,036,672 shares during the last quarter. Geode Capital Management LLC lifted its stake in Apple Hospitality REIT by 2.0% in 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 purchasing an additional 70,176 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Apple Hospitality REIT by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,246,620 shares of the real estate investment trust’s stock valued at $51,492,000 after purchasing an additional 31,274 shares during the last quarter. 57.51% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $16.42 per share, with a total value of $82,100.00. Following the purchase, the chairman now directly owns 10,128,812 shares in the company, valued at $166,315,093.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Redd Hugh acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average cost of $15.88 per share, with a total value of $31,760.00. Following the purchase, the director now owns 92,154 shares in the company, valued at $1,463,405.52. The disclosure for this purchase can be found here. Company insiders own 6.50% of the company’s stock.

The company also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, August 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 7.80%. Apple Hospitality REIT’s dividend payout ratio is 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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Earnings History and Estimates for Apple Hospitality REIT (NYSE:APLE)

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