Apple Hospitality REIT Inc (APLE) Expected to Announce Earnings of $0.47 Per Share
Wall Street analysts forecast that Apple Hospitality REIT Inc (NYSE:APLE) will report $0.47 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. 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 in the same quarter last year, which indicates a positive year over year growth rate of 571.4%. The business is scheduled to issue its next quarterly earnings results 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 financial year, with EPS estimates ranging from $1.72 to $1.75. For the next fiscal year, analysts expect that the company will report 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 research analysts that that provide coverage for Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, August 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $331.70 million for the quarter, compared to the consensus estimate of $335.94 million. Apple Hospitality REIT had a return on equity of 10.05% and a net margin of 26.41%. The firm’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.
Several analysts have recently issued reports on the company. BidaskClub cut Apple Hospitality REIT from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Robert W. Baird restated an “outperform” rating and issued a $21.00 target price on shares of Apple Hospitality REIT in a report on Tuesday, July 4th. Finally, Canaccord Genuity restated a “hold” rating and set a $19.00 target price (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.75.
In other news, insider Justin G. Knight bought 17,000 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $17.62 per share, with a total value of $299,540.00. Following the purchase, the insider now directly owns 1,005,274 shares in the company, valued at approximately $17,712,927.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Glade M. Knight bought 20,000 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $352,400.00. Following the completion of the purchase, the chairman now owns 10,041,357 shares in the company, valued at $176,928,710.34. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 45,000 shares of company stock valued at $794,950. 6.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in APLE. National Asset Management Inc. raised its position in shares of Apple Hospitality REIT by 1.0% in the first quarter. National Asset Management Inc. now owns 35,627 shares of the real estate investment trust’s stock valued at $682,000 after buying an additional 348 shares during the last quarter. SG Americas Securities LLC raised its stake in Apple Hospitality REIT by 4.2% during the second quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 471 shares during the period. The Manufacturers Life Insurance Company raised its stake in Apple Hospitality REIT by 7.5% during the second quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 494 shares during the period. GAM Holding AG raised its stake in Apple Hospitality REIT by 2.8% during the second quarter. GAM Holding AG now owns 18,100 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 500 shares during the period. Finally, Ken Stern & Associates Inc. raised its stake in Apple Hospitality REIT by 5.4% during the second quarter. Ken Stern & Associates Inc. now owns 12,606 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 647 shares during the period. Hedge funds and other institutional investors own 49.18% of the company’s stock.
Shares of Apple Hospitality REIT (NYSE:APLE) traded down 0.48% during trading on Tuesday, hitting $18.77. The stock had a trading volume of 989,269 shares. The firm has a market capitalization of $4.19 billion, a P/E ratio of 22.78 and a beta of 0.61. Apple Hospitality REIT has a 1-year low of $17.32 and a 1-year high of $20.68. The stock’s 50-day moving average price is $18.35 and its 200 day moving average price is $18.67.
The firm also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 6.39%. The ex-dividend date is Tuesday, October 3rd. Apple Hospitality REIT’s payout ratio is 150.00%.
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About Apple Hospitality REIT
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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