Apple Hospitality REIT, Inc. (NYSE: APLE – Get a rating) – Capital One Financial investment analysts released their fiscal 2024 earnings per share (EPS) estimates for shares of Apple Hospitality REIT in a note to investors on Thursday, September 15. Capital One Financial analyst N. Malkin expects the real estate investment trust to post earnings of $2.10 per share for the year. The consensus estimate of Apple Hospitality REIT’s current annual earnings is $1.52 per share.
Apple Hospitality REIT (NYSE: APLE – Get a rating) last released its quarterly earnings data on Thursday, August 4. The real estate investment trust reported earnings per share (EPS) of $0.29 for the quarter, missing the consensus estimate of $0.45 per ($0.16). Apple Hospitality REIT posted a return on equity of 4.05% and a net margin of 11.40%. During the same period last year, the company achieved EPS of $0.30.
APLE has been the subject of several other reports. Wells Fargo & Company upgraded Apple Hospitality REIT from an “underweight” rating to an “equally weighted” rating and raised its price target for the company from $16.00 to $17.00 in a Monday report August 29. Barclays cut its price target on Apple Hospitality REIT from $21.00 to $19.00 and set an “overweight” rating for the company in a Thursday July 7 research note. TheStreet upgraded Apple Hospitality REIT from a “c” to a “b-” rating in a Thursday, August 11 research note. Finally, B. Riley upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating in a Thursday, August 11 research note. Two equity research analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.
Apple Hospitality REIT shares up 0.1%
Apple Hospitality REIT stock opened Monday at $15.76. Apple Hospitality REIT has a fifty-two week low of $14.29 and a fifty-two week high of $18.69. The company has a debt ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $3.61 billion, a P/E ratio of 27.65, a PEG ratio of 0.42 and a beta of 1.10. The stock has a 50-day simple moving average of $16.20 and a 200-day simple moving average of $16.56.
Institutional investors weigh in on Apple Hospitality REIT
Several hedge funds have recently changed their positions in the company. FMR LLC raised its position in Apple Hospitality REIT shares by 598.2% in the second quarter. FMR LLC now owns 2,916,965 shares of the real estate investment trust worth $42,791,000 after purchasing an additional 2,499,168 shares during the period. JPMorgan Chase & Co. raised its position in Apple Hospitality REIT shares by 36.5% in the fourth quarter. JPMorgan Chase & Co. now owns 6,327,751 shares of the real estate investment trust worth $102,193,000 after purchasing an additional 1,692,032 shares during the period. State Street Corp raised its position in shares of Apple Hospitality REIT by 14.7% in the first quarter. State Street Corp now owns 10,388,765 shares of the real estate investment trust worth $186,686,000 after purchasing an additional 1,331,707 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Apple Hospitality REIT by 37.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,480,292 shares of the real estate investment trust worth $80,511,000 after purchasing an additional 1,215,575 shares during the period. Finally, Centersquare Investment Management LLC increased its position in Apple Hospitality REIT shares by 76.5% in the 1st quarter. Centersquare Investment Management LLC now owns 2,028,320 shares of the real estate investment trust worth $36,450,000 after purchasing an additional 878,930 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s shares.
Insider buying and selling
In other news, the President Glade Mr. Knight bought 5,000 shares in a trade that took place on Tuesday, August 9. The shares were acquired at an average price of $16.21 per share, for a total transaction of $81,050.00. Following the acquisition, the president now directly owns 493,093 shares of the company, valued at approximately $7,993,037.53. The acquisition was disclosed in a legal filing with the SEC, which is available via this hyperlink. Insiders hold 6.80% of the shares of the company.
Apple Hospitality REIT increases its dividend
The company also recently announced a monthly dividend, which was paid on Thursday, September 15. Shareholders of record on Friday, September 2 received a dividend of $0.07 per share. This represents a dividend of $0.84 on an annualized basis and a dividend yield of 5.33%. This is an increase from Apple Hospitality REIT’s previous monthly dividend of $0.05. The ex-dividend date was Thursday, September 1. Apple Hospitality REIT’s dividend payout ratio is 147.37%.
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, room-based hotels in the United States . Apple Hospitality’s portfolio consists of 235 hotels with more than 30,000 rooms located in 87 markets across 34 states.
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