Zacks: Analysts Expect Apple Hospitality REIT, Inc. (APLE) Will Announce Earnings of $0.47 Per Share
Wall Street brokerages expect Apple Hospitality REIT, Inc. (NYSE:APLE) to report $0.47 earnings per share (EPS) for the current 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 $0.49. Apple Hospitality REIT reported earnings of $0.07 per share during the same quarter last year, which indicates a positive year over year growth rate of 571.4%. The firm is expected to report its next earnings results after the market closes on Monday, November 6th.
On average, 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 year, analysts expect that the firm will post earnings of $1.75 per share, with EPS estimates ranging from $1.73 to $1.77. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.01). Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The firm had revenue of $331.70 million for the quarter, compared to analyst estimates of $335.94 million. During the same period last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 28.7% compared to the same quarter last year.
A number of analysts have weighed in on the company. BidaskClub cut Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Canaccord Genuity reaffirmed a “hold” rating and set a $19.00 price objective (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $21.00 price objective 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 assigned a buy rating to the company. Apple Hospitality REIT currently has an average rating of “Hold” and an average price target of $20.00.
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Apple Hospitality REIT (NYSE:APLE) traded down 0.83% during midday trading on Friday, hitting $19.05. The company had a trading volume of 771,027 shares. Apple Hospitality REIT has a 12 month low of $17.32 and a 12 month high of $20.68. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 23.81 and a beta of 0.61. The firm has a 50-day moving average price of $18.77 and a 200-day moving average price of $18.69.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 2nd. This represents a $1.20 annualized dividend and a dividend yield of 6.30%. Apple Hospitality REIT’s dividend payout ratio is currently 150.00%.
In other Apple Hospitality REIT news, Director Redd Hugh purchased 2,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $17.96 per share, with a total value of $35,920.00. Following the acquisition, the director now directly owns 59,495 shares of the company’s stock, valued at $1,068,530.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Justin G. Knight purchased 17,000 shares of Apple Hospitality REIT stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $17.62 per share, with a total value of $299,540.00. Following the completion of the acquisition, the insider now directly owns 1,005,274 shares in the company, valued at $17,712,927.88. The disclosure for this purchase can be found here. Insiders bought a total of 45,000 shares of company stock valued at $794,950 over the last three months. Insiders own 6.30% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of APLE. Schroder Investment Management Group acquired a new position in Apple Hospitality REIT during the second quarter worth $102,000. Public Employees Retirement Association of Colorado raised its holdings in Apple Hospitality REIT by 26.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 1,393 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 last quarter. IMS Capital Management acquired a new position in Apple Hospitality REIT during the second quarter worth $140,000. Finally, Ffcm LLC raised its holdings in Apple Hospitality REIT by 353.1% during the second quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock worth $159,000 after purchasing an additional 6,526 shares during the last quarter. 49.18% of the stock is owned by institutional investors and hedge funds.
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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