Zacks: Brokerages Anticipate Apple Hospitality REIT Inc (APLE) to Post $0.48 Earnings Per Share

Brokerages expect Apple Hospitality REIT Inc (NYSE:APLE) to announce $0.48 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Apple Hospitality REIT’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.46. Apple Hospitality REIT also posted earnings per share of $0.48 in the same quarter last year. The company is expected to announce its next earnings results on Monday, November 5th.

According to Zacks, analysts expect that Apple Hospitality REIT will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.69 to $1.79. For the next year, analysts expect that the company will post earnings of $1.76 per share, with EPS estimates ranging from $1.70 to $1.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.22). The firm had revenue of $344.70 million during the quarter, compared to analysts’ expectations of $347.27 million. Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share.

A number of equities analysts recently weighed in on APLE shares. ValuEngine lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, June 18th. B. Riley upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, August 8th. Finally, Zacks Investment Research cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.25.

Apple Hospitality REIT stock traded up $0.01 during trading hours on Tuesday, hitting $17.43. The stock had a trading volume of 1,790,004 shares, compared to its average volume of 926,777. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market capitalization of $4.01 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 2.01 and a beta of 0.64. Apple Hospitality REIT has a 12-month low of $16.72 and a 12-month high of $20.19.

The company also recently declared a monthly dividend, which will be paid on Monday, October 15th. Stockholders of record on Wednesday, October 3rd will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date is Tuesday, October 2nd. Apple Hospitality REIT’s dividend payout ratio is currently 68.97%.

In related news, Director Blythe J. Mcgarvie acquired 11,500 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was purchased at an average cost of $17.32 per share, with a total value of $199,180.00. Following the transaction, the director now directly owns 9,744 shares of the company’s stock, valued at approximately $168,766.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justin G. Knight acquired 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was bought at an average cost of $17.65 per share, with a total value of $105,900.00. Following the completion of the transaction, the insider now directly owns 1,109,681 shares in the company, valued at $19,585,869.65. The disclosure for this purchase can be found here. Insiders bought a total of 33,657 shares of company stock worth $588,035 over the last 90 days. Company insiders own 6.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Apple Hospitality REIT by 6.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 49,841 shares of the real estate investment trust’s stock valued at $891,000 after acquiring an additional 2,973 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Apple Hospitality REIT by 2.5% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 133,100 shares of the real estate investment trust’s stock valued at $2,380,000 after acquiring an additional 3,300 shares during the last quarter. Lido Advisors LLC boosted its position in shares of Apple Hospitality REIT by 18.0% during the 1st quarter. Lido Advisors LLC now owns 22,475 shares of the real estate investment trust’s stock valued at $394,000 after acquiring an additional 3,425 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Apple Hospitality REIT by 10.9% during the 1st quarter. Hsbc Holdings PLC now owns 35,246 shares of the real estate investment trust’s stock valued at $619,000 after acquiring an additional 3,450 shares during the last quarter. Finally, HGK Asset Management Inc. boosted its position in shares of Apple Hospitality REIT by 15.3% during the 2nd quarter. HGK Asset Management Inc. now owns 27,181 shares of the real estate investment trust’s stock valued at $486,000 after acquiring an additional 3,598 shares during the last quarter. 56.55% of the stock is owned by hedge funds and other institutional investors.

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

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

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