Oppenheimer Research Analysts Cut Earnings Estimates for Apple Hospitality REIT, Inc. (NYSE:APLE)

Apple Hospitality REIT, Inc. (NYSE:APLE – Get Rating) – Equities researchers at Oppenheimer lowered their Q2 2022 EPS estimates for Apple Hospitality REIT in a report issued on Tuesday, May 10th. Oppenheimer analyst T. Batory now forecasts that the real estate investment trust will earn $0.48 per share for the quarter, down from their prior estimate of $0.49. Oppenheimer has a “Outperform” rating and a $23.00 price objective on the stock. Oppenheimer also issued estimates for Apple Hospitality REIT’s FY2022 earnings at $1.51 EPS, Q2 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.36 EPS and FY2023 earnings at $1.73 EPS.

Other equities analysts have also issued research reports about the company. Barclays raised their price target on Apple Hospitality REIT from $19.00 to $21.00 in a research note on Tuesday, March 1st. TheStreet cut shares of Apple Hospitality REIT from a “b-” rating to a “c” rating in a research report on Thursday, April 7th. Zacks Investment Research raised shares of Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Tuesday, April 12th. Finally, StockNews.com started coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.75.

Shares of APLE opened at $16.22 on Thursday. Apple Hospitality REIT has a 52-week low of $13.83 and a 52-week high of $18.69. The company has a market cap of $3.71 billion, a PE ratio of 43.84 and a beta of 1.06. The business has a fifty day moving average of $17.62 and a 200 day moving average of $16.73. The company has a quick ratio of 0.03, a current ratio of 0.03 and a debt-to-equity ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Apple Hospitality REIT had a return on equity of 2.67% and a net margin of 8.04%. During the same period in the prior year, the firm earned $0.04 earnings per share.

A number of institutional investors have recently added to or reduced their stakes in APLE. BlackRock Inc. grew its holdings in shares of Apple Hospitality REIT by 5.2% during the 4th quarter. BlackRock Inc. now owns 20,973,768 shares of the real estate investment trust’s stock worth $338,726,000 after purchasing an additional 1,040,710 shares during the period. Victory Capital Management Inc. lifted its position in shares of Apple Hospitality REIT by 15.5% in the 4th quarter. Victory Capital Management Inc. now owns 9,405,528 shares of the real estate investment trust’s stock worth $151,899,000 after buying an additional 1,260,398 shares during the last quarter. State Street Corp lifted its position in shares of Apple Hospitality REIT by 6.7% in the 4th quarter. State Street Corp now owns 9,057,058 shares of the real estate investment trust’s stock worth $146,361,000 after buying an additional 570,210 shares during the last quarter. Principal Financial Group Inc. lifted its position in Apple Hospitality REIT by 8.0% in the 1st quarter. Principal Financial Group Inc. now owns 6,863,954 shares of the real estate investment trust’s stock valued at $123,346,000 after purchasing an additional 509,994 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Apple Hospitality REIT by 7.3% in the 1st quarter. JPMorgan Chase & Co. now owns 6,792,786 shares of the real estate investment trust’s stock valued at $122,066,000 after purchasing an additional 465,035 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

In other news, Director Howard E. Woolley bought 1,670 shares of the business’s stock in a transaction dated Monday, March 14th. The shares were acquired at an average price of $17.96 per share, for a total transaction of $29,993.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is owned by company insiders.

The company also recently declared a monthly dividend, which will be paid on Monday, May 16th. Stockholders of record on Tuesday, May 3rd will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 2nd. This represents a $0.60 annualized dividend and a dividend yield of 3.70%. Apple Hospitality REIT’s dividend payout ratio is currently 162.16%.

Apple Hospitality REIT Company Profile (Get Rating)

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.

See Also