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

Apple Hospitality REIT, Inc. (NYSE:APLE) – Equities research analysts at B. Riley decreased their FY2024 earnings per share estimates for shares of Apple Hospitality REIT in a note issued to investors 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 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.

Several other research analysts have also weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $18.00 target price (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Wells Fargo & Company lowered their price target 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. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $16.50.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $15.91 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The firm’s fifty day simple moving average is $14.91 and its 200-day simple moving average is $14.64. The stock has a market cap of $3.82 billion, a PE ratio of 18.72 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $0.45 EPS.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.03%. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Apple Hospitality REIT by 3.5% during the first quarter. Vanguard Group Inc. now owns 35,555,550 shares of the real estate investment trust’s stock worth $582,400,000 after buying an additional 1,217,142 shares in the last quarter. Victory Capital Management Inc. increased its position in Apple Hospitality REIT by 17.2% during the 2nd quarter. Victory Capital Management Inc. now owns 6,019,115 shares of the real estate investment trust’s stock worth $87,518,000 after purchasing an additional 881,217 shares in the last quarter. Edgestream Partners L.P. raised its stake in Apple Hospitality REIT by 400.8% in the 2nd 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 last quarter. Westwood Holdings Group Inc. lifted its holdings in Apple Hospitality REIT by 911.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 388,414 shares of the real estate investment trust’s stock valued at $5,648,000 after purchasing an additional 350,000 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its stake 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 purchasing an additional 339,156 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.