Apple Hospitality REIT (NYSE:APLE) PT Lowered to $12.00 at B. Riley

Apple Hospitality REIT (NYSE:APLE) had its price objective trimmed by B. Riley from $16.00 to $12.00 in a research report report published on Monday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the real estate investment trust’s stock. B. Riley also issued estimates for Apple Hospitality REIT’s Q1 2020 earnings at $0.32 EPS, Q2 2020 earnings at $0.18 EPS, Q3 2020 earnings at $0.33 EPS, Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.11 EPS, Q1 2021 earnings at $0.33 EPS, Q2 2021 earnings at $0.40 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.30 EPS, FY2021 earnings at $1.43 EPS and FY2022 earnings at $1.47 EPS.

A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Apple Hospitality REIT from a sell rating to a hold rating in a report on Thursday, March 12th. ValuEngine lowered shares of Apple Hospitality REIT from a hold rating to a sell rating in a report on Tuesday, March 3rd. Janney Montgomery Scott began coverage on shares of Apple Hospitality REIT in a report on Monday, December 16th. They issued a buy rating and a $18.00 price target on the stock. Barclays lowered shares of Apple Hospitality REIT from an overweight rating to an equal weight rating and set a $10.00 price target on the stock. in a report on Tuesday, March 17th. Finally, Capital One Financial raised shares of Apple Hospitality REIT from an equal weight rating to an overweight rating and decreased their price target for the stock from $17.00 to $14.00 in a report on Monday, March 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Apple Hospitality REIT has an average rating of Hold and a consensus price target of $14.40.

Apple Hospitality REIT stock traded up $0.31 during midday trading on Monday, reaching $9.57. 8,239,469 shares of the stock were exchanged, compared to its average volume of 3,208,390. The company’s fifty day moving average is $12.11 and its 200-day moving average is $15.09. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market cap of $2.07 billion, a PE ratio of 12.43 and a beta of 0.86. Apple Hospitality REIT has a 52 week low of $4.48 and a 52 week high of $16.88.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.22). The firm had revenue of $289.97 million for the quarter, compared to the consensus estimate of $288.45 million. Apple Hospitality REIT had a return on equity of 5.16% and a net margin of 13.57%. On average, sell-side analysts anticipate that Apple Hospitality REIT will post 1.54 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which was paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th were issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 12.54%. The ex-dividend date of this dividend was Tuesday, March 3rd. Apple Hospitality REIT’s payout ratio is 73.62%.

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of $11.90 per share, with a total value of $59,500.00. Following the purchase, the chairman now owns 10,211,968 shares of the company’s stock, valued at $121,522,419.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in APLE. FMR LLC boosted its stake in shares of Apple Hospitality REIT by 3.0% in the 1st quarter. FMR LLC now owns 1,836,402 shares of the real estate investment trust’s stock valued at $29,933,000 after purchasing an additional 53,390 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Apple Hospitality REIT by 513.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 695,528 shares of the real estate investment trust’s stock valued at $11,336,000 after purchasing an additional 582,110 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Apple Hospitality REIT by 40.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,354 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 968 shares in the last quarter. State Street Corp boosted its stake in shares of Apple Hospitality REIT by 2.8% in the 3rd quarter. State Street Corp now owns 9,679,447 shares of the real estate investment trust’s stock valued at $160,485,000 after purchasing an additional 267,528 shares in the last quarter. Finally, Pacitti Group Inc. purchased a new stake in shares of Apple Hospitality REIT in the 3rd quarter valued at $119,000. 62.08% of the stock is owned by institutional investors.

About Apple Hospitality REIT

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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