Apple Hospitality REIT Inc reports results for the quarter ended in March - Earnings Summary

Apple Hospitality REIT

07/05/2024 05:04

* Apple Hospitality REIT Inc  APLE.N  reported quarterly
adjusted
earnings of 22 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 14 cents.  The mean expectation of four analysts
for the quarter was for earnings of 14 cents per share. Wall
Street expected results to range from 14 cents to 15 cents per
share.
    * Revenue rose 5.8% to $329.51 million from a year ago;
analysts
expected $326.41 million. 
    * Apple Hospitality REIT Inc's reported EPS for the quarter
was 22
cents​.
    * The company reported quarterly net income of $54.05
million.
    * Apple Hospitality REIT Inc shares had fallen by 10.4% this
quarter and lost 11.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "buy"

Wall Street's median 12-month price target for Apple Hospitality
REIT Inc is $18.00 
This summary was machine generated from LSEG data May 7 at 04:03
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.34           0.34           Met
 Dec. 31 2023      0.31                          
 Sep. 30 2023      0.45           0.45           Met
 Jun. 30 2023      0.48           0.49           Beat