Analysts forecast that Apple Hospitality REIT, Inc. (NYSE:APLE) will announce earnings of $0.47 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Apple Hospitality REIT’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.49. Apple Hospitality REIT reported earnings per share of $0.07 during the same quarter last year, which would suggest a positive year over year growth rate of 571.4%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, November 6th.
According to Zacks, analysts expect that Apple Hospitality REIT will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.72 to $1.75. For the next fiscal year, analysts forecast that the business will post earnings of $1.75 per share, with EPS estimates ranging from $1.73 to $1.77. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $331.70 million during the quarter, compared to analyst estimates of $335.94 million. Apple Hospitality REIT had a net margin of 14.97% and a return on equity of 5.05%. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share.
Several research firms have recently weighed in on APLE. Canaccord Genuity reissued a “hold” rating and issued a $19.00 target price (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised shares of Apple Hospitality REIT from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $21.00 target price on shares of Apple Hospitality REIT in a research report on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.00.
Shares of Apple Hospitality REIT (NYSE:APLE) traded up 0.05% during trading on Friday, hitting $18.90. 574,704 shares of the company traded hands. The firm has a 50 day moving average price of $18.82 and a 200-day moving average price of $18.69. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 22.94 and a beta of 0.61. Apple Hospitality REIT has a one year low of $17.32 and a one year high of $20.68.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, November 3rd will be given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend is Thursday, November 2nd. Apple Hospitality REIT’s payout ratio is presently 150.00%.
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In related news, Director Redd Hugh acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average cost of $17.96 per share, with a total value of $35,920.00. Following the completion of the transaction, the director now owns 59,495 shares of the company’s stock, valued at approximately $1,068,530.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Glade M. Knight acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $17.62 per share, for a total transaction of $352,400.00. Following the completion of the transaction, the chairman now directly owns 10,041,357 shares of the company’s stock, valued at approximately $176,928,710.34. The disclosure for this purchase can be found here. Insiders have purchased 45,000 shares of company stock worth $794,950 over the last ninety days. 6.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in APLE. BlackRock Inc. grew its position in Apple Hospitality REIT by 3,420.4% during the first quarter. BlackRock Inc. now owns 11,994,624 shares of the real estate investment trust’s stock valued at $229,099,000 after purchasing an additional 11,653,910 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Apple Hospitality REIT by 155.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,540,891 shares of the real estate investment trust’s stock valued at $48,531,000 after purchasing an additional 1,547,960 shares in the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Apple Hospitality REIT during the second quarter valued at approximately $10,925,000. Nuveen Asset Management LLC grew its position in Apple Hospitality REIT by 66.3% during the first quarter. Nuveen Asset Management LLC now owns 1,126,969 shares of the real estate investment trust’s stock valued at $21,525,000 after purchasing an additional 449,135 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Apple Hospitality REIT by 92.4% during the first quarter. Renaissance Technologies LLC now owns 690,235 shares of the real estate investment trust’s stock valued at $13,183,000 after purchasing an additional 331,535 shares in the last quarter. 48.98% of the stock is currently owned by hedge funds and other institutional investors.
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 September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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