Zacks: Brokerages Anticipate Apple Hospitality REIT (APLE) Will Post Earnings of $0.39 Per Share

Analysts expect Apple Hospitality REIT (NYSE:APLE) to report $0.39 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Apple Hospitality REIT’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.38. Apple Hospitality REIT also posted earnings of $0.39 per share in the same quarter last year. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, May 7th.

On average, analysts expect that Apple Hospitality REIT will report full-year earnings of $1.75 per share for the current financial year, with EPS estimates ranging from $1.73 to $1.79. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.78 per share, with EPS estimates ranging from $1.75 to $1.81. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Apple Hospitality REIT.

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Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Apple Hospitality REIT had a return on equity of 5.19% and a net margin of 14.73%. The company had revenue of $289.07 million during the quarter, compared to analysts’ expectations of $288.75 million. During the same period last year, the business posted $0.37 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year.



A number of equities research analysts have commented on the company. ValuEngine cut Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. B. Riley set a $20.00 price target on Apple Hospitality REIT and gave the company a “hold” rating in a research note on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a research note on Friday, January 12th. TheStreet cut Apple Hospitality REIT from a “b” rating to a “c” rating in a research note on Thursday, February 8th. Finally, Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $20.20.

Apple Hospitality REIT stock traded down $0.01 during midday trading on Friday, reaching $17.86. The company’s stock had a trading volume of 1,026,105 shares, compared to its average volume of 1,397,441. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 52-week low of $16.72 and a 52-week high of $20.19. The stock has a market cap of $4,111.44, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.04 and a beta of 0.65.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Wednesday, May 2nd will be issued a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date is Tuesday, May 1st. Apple Hospitality REIT’s dividend payout ratio is presently 68.97%.

In other news, Chairman Glade M. Knight acquired 5,800 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were acquired at an average cost of $17.10 per share, with a total value of $99,180.00. Following the completion of the acquisition, the chairman now owns 10,052,157 shares of the company’s stock, valued at $171,891,884.70. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Glade M. Knight acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was purchased at an average cost of $17.16 per share, for a total transaction of $171,600.00. The disclosure for this purchase can be found here. Insiders bought 33,504 shares of company stock worth $573,262 over the last three months. Corporate insiders own 6.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in APLE. Global X Management Co. LLC grew its holdings in Apple Hospitality REIT by 21.7% during the fourth quarter. Global X Management Co. LLC now owns 90,763 shares of the real estate investment trust’s stock worth $1,780,000 after acquiring an additional 16,175 shares during the period. Aperio Group LLC grew its holdings in Apple Hospitality REIT by 63.0% during the fourth quarter. Aperio Group LLC now owns 200,255 shares of the real estate investment trust’s stock worth $3,927,000 after acquiring an additional 77,379 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in Apple Hospitality REIT during the fourth quarter worth about $3,162,000. HighPoint Advisor Group LLC grew its holdings in Apple Hospitality REIT by 74.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 18,195 shares of the real estate investment trust’s stock worth $330,000 after acquiring an additional 7,766 shares during the period. Finally, Millennium Management LLC grew its holdings in Apple Hospitality REIT by 34.9% during the fourth quarter. Millennium Management LLC now owns 1,692,008 shares of the real estate investment trust’s stock worth $33,180,000 after acquiring an additional 437,618 shares during the period. 54.49% of the stock is currently owned by institutional investors and hedge funds.

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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 portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.

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

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