Brokerages expect Apple Hospitality REIT Inc (NYSE:APLE) to post earnings of $0.34 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Apple Hospitality REIT’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.33. Apple Hospitality REIT reported earnings per share of $0.36 in the same quarter last year, which indicates a negative year over year growth rate of 5.6%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 24th.
On average, analysts expect that Apple Hospitality REIT will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $1.63 to $1.68. For the next fiscal year, analysts forecast that the business will post earnings of $1.64 per share, with EPS estimates ranging from $1.59 to $1.68. Zacks’ EPS calculations 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 results on Monday, November 4th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.24). The business had revenue of $331.72 million during the quarter, compared to analyst estimates of $328.85 million. Apple Hospitality REIT had a return on equity of 5.37% and a net margin of 14.20%. Apple Hospitality REIT’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS.
NYSE APLE traded down $0.09 during trading on Friday, hitting $16.08. The company’s stock had a trading volume of 1,485,040 shares, compared to its average volume of 1,297,436. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $3.62 billion, a PE ratio of 9.35, a P/E/G ratio of 1.96 and a beta of 0.80. The business’s 50 day simple moving average is $16.32 and its 200-day simple moving average is $16.01. Apple Hospitality REIT has a fifty-two week low of $13.81 and a fifty-two week high of $16.90.
The company also recently announced a monthly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 4th will be issued a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.46%. The ex-dividend date of this dividend is Friday, November 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 69.77%.
In other news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $16.26 per share, with a total value of $81,300.00. Following the completion of the acquisition, the chairman now directly owns 10,138,812 shares of the company’s stock, valued at approximately $164,857,083.12. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 6.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its position in Apple Hospitality REIT by 175.0% during the second quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock valued at $75,683,000 after acquiring an additional 3,036,672 shares in the last quarter. Renaissance Technologies LLC raised its position in Apple Hospitality REIT by 19.6% during the second quarter. Renaissance Technologies LLC now owns 4,076,488 shares of the real estate investment trust’s stock valued at $64,653,000 after acquiring an additional 668,400 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Apple Hospitality REIT during the second quarter valued at approximately $9,845,000. Amundi Pioneer Asset Management Inc. raised its position in Apple Hospitality REIT by 513.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 695,528 shares of the real estate investment trust’s stock valued at $11,336,000 after acquiring an additional 582,110 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Apple Hospitality REIT by 8.4% during the second quarter. Prudential Financial Inc. now owns 4,786,671 shares of the real estate investment trust’s stock valued at $75,917,000 after acquiring an additional 369,771 shares in the last quarter. 59.32% of the stock is owned by hedge funds and other institutional investors.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
Recommended Story: What is a Call Option?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.