B. Riley Analysts Decrease Earnings Estimates for Apple Hospitality REIT Inc (APLE)
Apple Hospitality REIT Inc (NYSE:APLE) – Equities researchers at B. Riley lowered their Q2 2019 earnings per share estimates for shares of Apple Hospitality REIT in a research report issued on Thursday, November 8th. B. Riley analyst B. Maher now forecasts that the real estate investment trust will post earnings of $0.49 per share for the quarter, down from their prior estimate of $0.51. B. Riley currently has a “Buy” rating and a $20.00 price target 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 issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.21). The business had revenue of $332.20 million for the quarter, compared to analysts’ expectations of $340.17 million. Apple Hospitality REIT had a return on equity of 4.77% and a net margin of 13.42%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share.
Shares of APLE stock opened at $16.19 on Friday. The company has a market cap of $3.69 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.89 and a beta of 0.69. Apple Hospitality REIT has a 12-month low of $15.67 and a 12-month high of $20.19.
The company also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, November 2nd will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date of this dividend is Thursday, November 1st. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.
In other news, Director Blythe J. Mcgarvie purchased 11,500 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of $17.32 per share, for a total transaction of $199,180.00. Following the acquisition, the director now directly owns 9,744 shares in the company, valued at approximately $168,766.08. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Justin G. Knight purchased 6,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $17.65 per share, for a total transaction of $105,900.00. Following the acquisition, the insider now owns 1,109,681 shares in the company, valued at $19,585,869.65. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 27,501 shares of company stock worth $481,397. Insiders own 6.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APLE. MERIAN GLOBAL INVESTORS UK Ltd grew its holdings in shares of Apple Hospitality REIT by 601.4% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,471,366 shares of the real estate investment trust’s stock worth $25,734,000 after acquiring an additional 1,261,586 shares during the period. LSV Asset Management acquired a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $17,534,000. First Quadrant L P CA grew its holdings in shares of Apple Hospitality REIT by 211.2% in the 2nd quarter. First Quadrant L P CA now owns 1,308,624 shares of the real estate investment trust’s stock worth $23,398,000 after acquiring an additional 888,064 shares during the period. Millennium Management LLC grew its holdings in shares of Apple Hospitality REIT by 66.5% in the 2nd quarter. Millennium Management LLC now owns 1,980,280 shares of the real estate investment trust’s stock worth $35,407,000 after acquiring an additional 791,220 shares during the period. Finally, Forward Management LLC acquired a new stake in shares of Apple Hospitality REIT in the 3rd quarter worth approximately $8,134,000. Institutional investors and hedge funds own 57.15% 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 30,700 guest rooms located in 88 markets throughout 34 states.
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