Q3 2024 EPS Estimates for Apple Hospitality REIT, Inc. (NYSE:APLE) Increased by Analyst

Apple Hospitality REIT, Inc. (NYSE:APLE) – Stock analysts at Wedbush raised their Q3 2024 EPS estimates for shares of Apple Hospitality REIT in a research report issued on Wednesday, August 7th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $0.44 for the quarter, up from their previous estimate of $0.28. Wedbush has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for Apple Hospitality REIT’s current full-year earnings is $1.40 per share. Wedbush also issued estimates for Apple Hospitality REIT’s Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $1.59 EPS and FY2025 earnings at $1.66 EPS.

Separately, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and an average target price of $17.00.

Apple Hospitality REIT Trading Up 0.1 %

NYSE:APLE opened at $14.05 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 16.34 and a beta of 1.11. Apple Hospitality REIT has a 52 week low of $13.72 and a 52 week high of $17.90. The firm has a 50-day moving average price of $14.50 and a two-hundred day moving average price of $15.29.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same quarter last year, the business posted $0.49 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its holdings in Apple Hospitality REIT by 3.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,662 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 859 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Apple Hospitality REIT by 1.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 63,506 shares of the real estate investment trust’s stock worth $986,000 after buying an additional 1,050 shares during the period. United Services Automobile Association boosted its holdings in Apple Hospitality REIT by 7.6% in the 2nd quarter. United Services Automobile Association now owns 15,408 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 1,094 shares during the period. Aurora Investment Counsel boosted its holdings in Apple Hospitality REIT by 4.5% in the 1st quarter. Aurora Investment Counsel now owns 26,799 shares of the real estate investment trust’s stock worth $439,000 after buying an additional 1,156 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Apple Hospitality REIT by 1.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 70,363 shares of the real estate investment trust’s stock worth $1,023,000 after buying an additional 1,274 shares during the period. 89.66% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $14.78 per share, with a total value of $73,900.00. Following the transaction, the chairman now directly owns 631,990 shares of the company’s stock, valued at $9,340,812.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 11,000 shares of company stock valued at $158,830 in the last three months. Company insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date of this dividend is Wednesday, July 31st. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

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.