Q3 2019 EPS Estimates for Apple Hospitality REIT Inc Reduced by Analyst (NYSE:APLE)

Apple Hospitality REIT Inc (NYSE:APLE) – Equities researchers at KeyCorp reduced their Q3 2019 EPS estimates for shares of Apple Hospitality REIT in a research report issued on Monday, October 7th. KeyCorp analyst A. Wurschmidt now anticipates that the real estate investment trust will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.45. KeyCorp also issued estimates for Apple Hospitality REIT’s FY2019 earnings at $1.63 EPS and FY2020 earnings at $1.59 EPS.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Apple Hospitality REIT had a net margin of 15.44% and a return on equity of 5.75%. The business had revenue of $341.12 million for the quarter, compared to analysts’ expectations of $340.44 million. During the same period last year, the business earned $0.51 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis.

A number of other research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, October 4th. Barclays upgraded shares of Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a research report on Monday, August 12th. 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Apple Hospitality REIT currently has an average rating of “Hold” and a consensus target price of $18.25.

Shares of NYSE APLE opened at $16.19 on Thursday. Apple Hospitality REIT has a one year low of $13.81 and a one year high of $16.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.04 and a quick ratio of 0.04. The firm’s 50 day simple moving average is $16.13 and its two-hundred day simple moving average is $16.02. The stock has a market capitalization of $3.60 billion, a P/E ratio of 9.41, a PEG ratio of 1.94 and a beta of 0.80.

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.41%. The ex-dividend date is Tuesday, October 1st. Apple Hospitality REIT’s dividend payout ratio is 69.77%.

In other news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $15.39 per share, for a total transaction of $76,950.00. Following the completion of the acquisition, the insider now owns 10,133,812 shares of the company’s stock, valued at $155,959,366.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Redd Hugh bought 2,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.55 per share, for a total transaction of $31,100.00. Following the acquisition, the director now directly owns 95,154 shares of the company’s stock, valued at approximately $1,479,644.70. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Apple Hospitality REIT by 6.5% in the first quarter. BlackRock Inc. now owns 17,555,764 shares of the real estate investment trust’s stock worth $286,160,000 after purchasing an additional 1,063,975 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Apple Hospitality REIT by 8.4% in the second quarter. Prudential Financial Inc. now owns 4,786,671 shares of the real estate investment trust’s stock worth $75,917,000 after purchasing an additional 369,771 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of Apple Hospitality REIT by 175.0% in the second quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock worth $75,683,000 after purchasing an additional 3,036,672 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Apple Hospitality REIT by 19.6% in the second quarter. Renaissance Technologies LLC now owns 4,076,488 shares of the real estate investment trust’s stock worth $64,653,000 after purchasing an additional 668,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Apple Hospitality REIT by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,246,620 shares of the real estate investment trust’s stock worth $51,492,000 after purchasing an additional 31,274 shares during the last quarter. Hedge funds and other institutional investors own 59.22% 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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Earnings History and Estimates for Apple Hospitality REIT (NYSE:APLE)

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