$0.34 EPS Expected for Apple Hospitality REIT Inc (NYSE:APLE) This Quarter

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.

APLE has been the subject of several recent analyst reports. Wells Fargo & Co raised their price target on Apple Hospitality REIT from $15.00 to $15.50 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Finally, Barclays raised Apple Hospitality REIT from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Apple Hospitality REIT presently has an average rating of “Hold” and an average target price of $17.13.

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?

Get a free copy of the Zacks research report on Apple Hospitality REIT (APLE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Apple Hospitality REIT (NYSE:APLE)

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.