Brokerages Anticipate Apple Hospitality REIT, Inc. (NYSE:APLE) to Post $0.45 Earnings Per Share

Brokerages forecast that Apple Hospitality REIT, Inc. (NYSE:APLEGet Rating) will post $0.45 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Apple Hospitality REIT’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.39. Apple Hospitality REIT reported earnings of $0.30 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 50%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Apple Hospitality REIT will report full year earnings of $1.45 per share for the current fiscal year, with EPS estimates ranging from $1.31 to $1.68. For the next year, analysts anticipate that the firm will post earnings of $1.68 per share, with EPS estimates ranging from $1.42 to $2.02. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Apple Hospitality REIT had a net margin of 8.04% and a return on equity of 2.67%. During the same period in the previous year, the business posted $0.04 EPS.

A number of equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Apple Hospitality REIT in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Oppenheimer started coverage on shares of Apple Hospitality REIT in a research note on Thursday, April 21st. They set an “outperform” rating and a $23.00 price target on the stock. TheStreet cut shares of Apple Hospitality REIT from a “b-” rating to a “c” rating in a research note on Thursday, April 7th. Barclays raised their price target on shares of Apple Hospitality REIT from $19.00 to $21.00 in a research note on Tuesday, March 1st. Finally, Zacks Investment Research raised shares of Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, April 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.75.

In related news, Director Howard E. Woolley bought 1,670 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average cost of $17.96 per share, with a total value of $29,993.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Valley National Advisers Inc. purchased a new position in Apple Hospitality REIT in the first quarter valued at approximately $51,000. New York State Teachers Retirement System raised its holdings in Apple Hospitality REIT by 275.0% in the first quarter. New York State Teachers Retirement System now owns 3,000 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 2,200 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Apple Hospitality REIT by 53.8% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,386 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 1,185 shares during the period. Exchange Traded Concepts LLC purchased a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $62,000. Finally, Point72 Hong Kong Ltd purchased a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $81,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE APLE opened at $16.85 on Friday. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 45.54 and a beta of 1.06. Apple Hospitality REIT has a 52 week low of $13.83 and a 52 week high of $18.69. The company’s 50-day moving average price is $17.71 and its 200 day moving average price is $16.73. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.04.

The business also recently announced a monthly dividend, which will be paid on Monday, May 16th. Investors of record on Tuesday, May 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, May 2nd. This represents a $0.60 annualized dividend and a dividend yield of 3.56%. Apple Hospitality REIT’s dividend payout ratio is presently 162.16%.

About Apple Hospitality REIT (Get Rating)

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.

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

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