Zacks: Brokerages Expect Apple Hospitality REIT Inc (APLE) to Post $0.48 EPS
Equities research analysts expect Apple Hospitality REIT Inc (NYSE:APLE) to announce $0.48 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Apple Hospitality REIT’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.46. Apple Hospitality REIT also posted earnings of $0.48 per share during the same quarter last year. The company is expected to announce its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Apple Hospitality REIT will report full year earnings of $1.73 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $1.79. For the next financial year, analysts expect that the company will post earnings of $1.76 per share, with EPS estimates ranging from $1.70 to $1.81. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, August 6th. The real estate investment trust reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.22). The company had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share.
Shares of Apple Hospitality REIT stock opened at $17.42 on Tuesday. The company has a market capitalization of $3.99 billion, a P/E ratio of 10.01, a P/E/G ratio of 2.00 and a beta of 0.64. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.14. Apple Hospitality REIT has a 52 week low of $16.72 and a 52 week high of $20.19.
The business also recently disclosed a monthly dividend, which was paid on Monday, September 17th. Investors of record on Tuesday, September 4th were given a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.89%. The ex-dividend date was Friday, August 31st. Apple Hospitality REIT’s payout ratio is currently 68.97%.
In other Apple Hospitality REIT news, Director Blythe J. Mcgarvie purchased 11,500 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of $17.32 per share, for a total transaction of $199,180.00. Following the acquisition, the director now owns 9,744 shares in the company, valued at $168,766.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was acquired at an average price of $17.33 per share, for a total transaction of $86,650.00. Following the acquisition, the insider now owns 10,098,533 shares in the company, valued at approximately $175,007,576.89. The disclosure for this purchase can be found here. Insiders purchased a total of 33,657 shares of company stock valued at $588,035 over the last ninety days. 6.30% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Meadow Creek Investment Management LLC grew its position in shares of Apple Hospitality REIT by 597.5% during the second quarter. Meadow Creek Investment Management LLC now owns 84,256 shares of the real estate investment trust’s stock worth $1,506,000 after buying an additional 72,176 shares in the last quarter. TLP Group LLC grew its holdings in shares of Apple Hospitality REIT by 1,074.4% in the 1st quarter. TLP Group LLC now owns 12,942 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 11,840 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Apple Hospitality REIT by 50.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 242,130 shares of the real estate investment trust’s stock worth $4,255,000 after acquiring an additional 80,834 shares during the last quarter. US Bancorp DE grew its holdings in shares of Apple Hospitality REIT by 98.9% in the 2nd quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 4,908 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Apple Hospitality REIT by 3.2% in the 2nd quarter. Swiss National Bank now owns 380,710 shares of the real estate investment trust’s stock worth $6,807,000 after acquiring an additional 11,800 shares during the last quarter. Institutional investors own 56.55% of the company’s stock.
Apple Hospitality REIT Company Profile
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 30,700 guest rooms located in 88 markets throughout 34 states.
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