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

Apple Hospitality REIT, Inc. (NYSE:APLEGet 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:APLEGet 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

Earnings History and Estimates for Apple Hospitality REIT (NYSE:APLE)

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