FY2024 Earnings Estimate for APLE Issued By B. Riley

Apple Hospitality REIT, Inc. (NYSE:APLE) – Equities researchers at B. Riley reduced their FY2024 earnings per share 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 earn $1.61 per share for the year, down from their prior 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.

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

Apple Hospitality REIT Stock Performance

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

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

Institutional Trading of Apple Hospitality REIT

Several institutional investors and hedge funds have recently modified their holdings of the business. EdgeRock Capital LLC acquired a new position in Apple Hospitality REIT during the second quarter worth about $26,000. Quarry LP increased its position in Apple Hospitality REIT by 127.5% during the 2nd quarter. Quarry LP now owns 2,302 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,290 shares in the last quarter. GAMMA Investing LLC lifted its stake in Apple Hospitality REIT by 40.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 780 shares during the last quarter. Covestor Ltd lifted its stake in Apple Hospitality REIT by 115.6% in the 1st quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 2,313 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in Apple Hospitality REIT by 4,406.5% in the second quarter. Headlands Technologies LLC now owns 5,543 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 5,420 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given 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 yield of 6.04%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

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, 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.