B. Riley Has Pessimistic Outlook of APLE FY2024 Earnings

Apple Hospitality REIT, Inc. (NYSE:APLE) – Stock analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Apple Hospitality REIT in a research note issued on Monday, November 11th. B. Riley analyst B. Maher now expects that the real estate investment trust will post earnings per share of $1.61 for the year, down from their previous forecast of $1.63. The consensus estimate for Apple Hospitality REIT’s current full-year earnings is $1.60 per share. B. Riley also issued estimates for Apple Hospitality REIT’s Q2 2025 earnings at $0.53 EPS and Q3 2026 earnings at $0.49 EPS.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period in the prior year, the business posted $0.45 EPS.

APLE has been the topic of several other reports. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Wells Fargo & Company lowered their target price on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.50.

Apple Hospitality REIT Price Performance

NYSE APLE opened at $15.89 on Wednesday. The firm’s 50 day moving average is $14.94 and its 200-day moving average is $14.65. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $3.81 billion, a PE ratio of 18.69 and a beta of 1.11. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90.

Institutional Trading of Apple Hospitality REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Apple Hospitality REIT by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after acquiring an additional 1,217,142 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Apple Hospitality REIT by 17.2% in the second quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock valued at $87,518,000 after purchasing an additional 881,217 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Apple Hospitality REIT by 400.8% in the second quarter. Edgestream Partners L.P. now owns 638,625 shares of the real estate investment trust’s stock valued at $9,286,000 after purchasing an additional 511,100 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Apple Hospitality REIT by 911.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock worth $5,648,000 after buying an additional 350,000 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Apple Hospitality REIT by 3,768.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,156 shares of the real estate investment trust’s stock worth $5,062,000 after buying an additional 339,156 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.04%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.