Apple Hospitality REIT Inc (APLE) Expected to Announce Earnings of $0.36 Per Share

Wall Street analysts forecast that Apple Hospitality REIT Inc (NYSE:APLE) will announce $0.36 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Apple Hospitality REIT’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.35. Apple Hospitality REIT reported earnings of $0.37 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.7%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, February 22nd.

On average, analysts expect that Apple Hospitality REIT will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.73 to $1.75. For the next fiscal year, analysts anticipate that the company will report earnings of $1.77 per share, with EPS estimates ranging from $1.75 to $1.79. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The business had revenue of $324.90 million for the quarter, compared to the consensus estimate of $324.66 million. During the same period last year, the business earned $0.49 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Friday, January 12th. KeyCorp assumed coverage on Apple Hospitality REIT in a research note on Friday, January 12th. They issued a “sector weight” rating on the stock. Robert W. Baird reissued a “buy” rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a research note on Friday, January 12th. TheStreet raised Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, December 8th. Finally, BidaskClub raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.50.

In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of the stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $19.18 per share, with a total value of $95,900.00. Following the acquisition, the insider now directly owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.30% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Apple Hospitality REIT by 10.7% in the 2nd quarter. BlackRock Inc. now owns 13,276,704 shares of the real estate investment trust’s stock valued at $248,408,000 after buying an additional 1,282,080 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of Apple Hospitality REIT by 7.8% during the 3rd quarter. Cohen & Steers Inc. now owns 6,988,766 shares of the real estate investment trust’s stock worth $132,158,000 after purchasing an additional 507,598 shares in the last quarter. State Street Corp grew its holdings in shares of Apple Hospitality REIT by 4.8% during the 2nd quarter. State Street Corp now owns 5,687,869 shares of the real estate investment trust’s stock worth $106,419,000 after purchasing an additional 261,327 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Apple Hospitality REIT by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,941,920 shares of the real estate investment trust’s stock worth $55,632,000 after purchasing an additional 59,310 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Apple Hospitality REIT by 1.9% during the 3rd quarter. Wells Fargo & Company MN now owns 2,365,975 shares of the real estate investment trust’s stock worth $44,741,000 after purchasing an additional 43,430 shares in the last quarter. 50.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Apple Hospitality REIT (NYSE:APLE) traded up $0.14 during mid-day trading on Friday, hitting $19.78. The company had a trading volume of 1,173,306 shares, compared to its average volume of 1,340,000. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.05 and a quick ratio of 0.05. Apple Hospitality REIT has a 1-year low of $17.49 and a 1-year high of $20.68. The company has a market cap of $4,410.00 and a P/E ratio of 19.58.

The firm also recently announced a monthly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Wednesday, January 3rd were issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date was Tuesday, January 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 118.81%.

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Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.

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