Brokerages Expect Apple Hospitality REIT, Inc. (APLE) Will Announce Earnings of $0.47 Per Share
Analysts forecast that Apple Hospitality REIT, Inc. (NYSE:APLE) will report earnings per share of $0.47 for the current fiscal quarter, according to Zacks. 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 $0.47. Apple Hospitality REIT posted earnings of $0.07 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 571.4%. The firm is scheduled to report its next earnings report 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 $1.73. For the next financial year, analysts expect that the business will report earnings of $1.75 per share, with EPS estimates ranging from $1.73 to $1.76. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.01). The business had revenue of $331.70 million during the quarter, compared to analysts’ expectations of $335.94 million. Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.
A number of research analysts have issued reports on the company. Canaccord Genuity reiterated a “hold” rating and set a $19.00 price target (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. BidaskClub upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $21.00 price target on shares of Apple Hospitality REIT in a research report on Tuesday, July 4th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $20.75.
In other news, insider Justin G. Knight acquired 17,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $17.62 per share, for a total transaction of $299,540.00. Following the completion of the acquisition, the insider now directly owns 1,005,274 shares in the company, valued at approximately $17,712,927.88. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Redd Hugh acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average price of $17.96 per share, with a total value of $35,920.00. Following the acquisition, the director now owns 59,495 shares of the company’s stock, valued at $1,068,530.20. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 45,000 shares of company stock valued at $794,950. Insiders own 6.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in APLE. BlackRock Inc. lifted its holdings in shares of Apple Hospitality REIT by 3,420.4% in 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 buying an additional 11,653,910 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Apple Hospitality REIT by 16.5% in the first quarter. Vanguard Group Inc. now owns 32,734,825 shares of the real estate investment trust’s stock valued at $625,236,000 after buying an additional 4,627,374 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Apple Hospitality REIT by 155.9% in 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 buying an additional 1,547,960 shares during the period. Uniplan Investment Counsel Inc. acquired a new stake in shares of Apple Hospitality REIT in the second quarter valued at $10,925,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Apple Hospitality REIT by 66.3% in 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 buying an additional 449,135 shares during the period. Institutional investors and hedge funds own 49.18% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Brokerages Expect Apple Hospitality REIT, Inc. (APLE) Will Announce Earnings of $0.47 Per Share” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/09/15/brokerages-expect-apple-hospitality-reit-inc-aple-will-announce-earnings-of-0-47-per-share.html.
Apple Hospitality REIT (NYSE APLE) opened at 18.73 on Friday. Apple Hospitality REIT has a 52-week low of $17.32 and a 52-week high of $20.68. The stock has a market cap of $4.18 billion, a PE ratio of 22.73 and a beta of 0.60. The firm has a 50-day moving average price of $18.14 and a 200 day moving average price of $18.71.
The company also recently disclosed a monthly dividend, which will be paid on Monday, September 18th. Stockholders of record on Tuesday, September 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 6.41%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 150.00%.
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 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Apple Hospitality REIT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.