→ Urgent Warning (From Weiss Ratings)
Apple Hospitality REIT, Inc. (NYSE:APLE - Get Rating) - Investment analysts at Oppenheimer reduced their Q3 2023 EPS estimates for shares of Apple Hospitality REIT in a research report issued to clients and investors on Thursday, February 23rd. Oppenheimer analyst T. Batory now anticipates that the real estate investment trust will post earnings of $0.46 per share for the quarter, down from their prior forecast of $0.47. The consensus estimate for Apple Hospitality REIT's current full-year earnings is $1.68 per share. Oppenheimer also issued estimates for Apple Hospitality REIT's FY2023 earnings at $1.65 EPS.
Several other brokerages have also recently commented on APLE. StockNews.com cut shares of Apple Hospitality REIT from a "hold" rating to a "sell" rating in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.75.
Shares of NYSE APLE opened at $16.68 on Monday. The company has a current ratio of 0.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.04. Apple Hospitality REIT has a 12 month low of $13.79 and a 12 month high of $18.69. The company has a 50 day simple moving average of $16.69 and a two-hundred day simple moving average of $16.29. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 0.38 and a beta of 1.18.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date is Monday, February 27th. Apple Hospitality REIT's payout ratio is 150.00%.
A number of large investors have recently modified their holdings of the business. Truist Financial Corp grew its holdings in shares of Apple Hospitality REIT by 61.9% in the fourth quarter. Truist Financial Corp now owns 101,601 shares of the real estate investment trust's stock valued at $1,603,000 after purchasing an additional 38,845 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Apple Hospitality REIT by 32.0% in the fourth quarter. Lazard Asset Management LLC now owns 20,223 shares of the real estate investment trust's stock valued at $319,000 after purchasing an additional 4,899 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Apple Hospitality REIT in the fourth quarter valued at about $256,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Apple Hospitality REIT by 1,664.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,047,851 shares of the real estate investment trust's stock valued at $16,535,000 after purchasing an additional 988,451 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Apple Hospitality REIT by 0.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,893,352 shares of the real estate investment trust's stock valued at $124,558,000 after purchasing an additional 66,044 shares during the period. Hedge funds and other institutional investors own 79.39% of the company's stock.
Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.
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