What is B. Riley's Forecast for APLE FY2024 Earnings?

Apple Hospitality REIT, Inc. (NYSE:APLE - Free Report) - B. Riley cut their FY2024 earnings per share (EPS) estimates for Apple Hospitality REIT in a report 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 prior estimate 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 - Get Free Report) last released its 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). The company had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the previous year, the firm earned $0.45 earnings per share.

Other analysts have also recently issued reports about the company. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Oppenheimer reaffirmed an "outperform" rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, 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 note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.50.

Apple Hospitality REIT Stock Down 0.1 %

Shares of NYSE:APLE traded down $0.01 on Wednesday, hitting $15.89. 1,468,608 shares of the company's stock were exchanged, compared to its average volume of 2,063,823. The company has a market capitalization of $3.81 billion, a PE ratio of 18.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $17.90. The firm's 50-day moving average is $14.94 and its 200 day moving average is $14.65.

Apple Hospitality REIT Dividend Announcement

The firm also recently announced 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Thursday, October 31st. Apple Hospitality REIT's dividend payout ratio (DPR) is 112.94%.

Institutional Trading of Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC acquired a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $26,000. Quarry LP grew its holdings in Apple Hospitality REIT by 127.5% in the second quarter. Quarry LP now owns 2,302 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,290 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Apple Hospitality REIT by 40.4% in the third quarter. GAMMA Investing LLC now owns 2,712 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 780 shares in the last quarter. Covestor Ltd increased its position in shares of Apple Hospitality REIT by 115.6% in the first quarter. Covestor Ltd now owns 4,314 shares of the real estate investment trust's stock valued at $71,000 after buying an additional 2,313 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of 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. Hedge funds and other institutional investors own 89.66% 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, 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.