B. Riley Forecasts Q3 2024 Earnings for Apple Hospitality REIT,
November 27, 2023
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Apple ($NYSE:APLE) Hospitality REIT focuses on acquiring, owning, renovating and operating upscale full-service hotel properties in the U.S. Its portfolio of hotels includes brands such as Hilton, Marriott, Hyatt, InterContinental Hotels Group, and Choice Hotels International. Overall, Apple Hospitality REIT is poised to have a strong Q3 2024, with a forecasted dividend increase and favorable earnings projections. Investors should keep a close eye on the company’s earnings report when it is released later this year.
Price History
B. Riley has recently forecasted the Q3 2024 earnings for Apple Hospitality REIT, Inc. On Friday, APPLE HOSPITALITY REIT stock opened at $16.6 and closed at $16.5, a slight gain of 0.2% from its prior closing price of 16.4. This forecast has been highly anticipated by APPLE HOSPITALITY REIT investors, as the company continues to grow and expand its portfolio of hospitality properties. Analysts are expecting a strong earnings report, as the company has invested heavily in its properties to ensure long-term growth and profitability. The results of the Q3 2024 earnings report will provide insight into the future performance of APPLE HOSPITALITY REIT and could potentially impact its stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for APLE. More…
| Total Revenues | Net Income | Net Margin |
| 1.33k | 159.04 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for APLE. More…
| Operations | Investing | Financing |
| 397.41 | -193.78 | -198.97 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for APLE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.76k | 1.59k | 13.87 |
Key Ratios Snapshot
Some of the financial key ratios for APLE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 19.0% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale analyzed the financials of APPLE HOSPITALITY REIT and our advanced star chart showed that the company is strong in dividend and medium in asset, growth and profitability. Our health score of 9 out of 10 indicates that APPLE HOSPITALITY REIT is capable to safely ride out any crisis without the risk of bankruptcy. Furthermore, we classified APPLE HOSPITALITY REIT as a ‘cow’, a type of company with a track record of paying out consistent and sustainable dividends. These features would be attractive for investors who prioritize dividend income over capital gains or long-term growth. These investors may include retirees who rely on income from their investments to supplement their pensions or fixed income, as well as individual investors who want to generate regular income from their portfolios. More…
Peers
The company’s competitors include Sunstone Hotel Investors Inc, Braemar Hotels & Resorts Inc, and CDL Hospitality Trusts.
– Sunstone Hotel Investors Inc ($NYSE:SHO)
Stone Hotel Investors Inc is a real estate investment trust that invests in hotel properties. The company’s portfolio includes properties in the United States, Canada, and Europe. As of 2022, Stone Hotel Investors Inc had a market cap of 2.28 billion. The company’s primary business is owning and operating hotel properties.
– Braemar Hotels & Resorts Inc ($NYSE:BHR)
Braemar Hotels & Resorts Inc. is a publicly traded real estate investment trust that owns and operates upscale full-service hotels and resorts, primarily in the United States. The company was founded in 1993 and is headquartered in Dallas, Texas. As of December 31, 2020, Braemar’s portfolio consisted of 36 hotels and resorts with a total of 11,917 guest rooms.
– CDL Hospitality Trusts ($SGX:J85)
CDL Hospitality Trusts is a hospitality real estate investment trust that owns a portfolio of hotels and resorts in Asia Pacific. The company’s market cap is $1.41 billion as of 2022. CDL Hospitality Trusts is headquartered in Singapore.
Summary
B. Riley recently issued a forecast for Apple Hospitality REIT’s earnings for the third quarter of 2024. They anticipate the company’s performance will remain strong. Their analysis highlights Apple Hospitality REIT’s increasing occupancy rates, strong balance sheet, and continuing increase in RevPAR as driving factors behind their outlook.
They also note the potential for continued asset acquisition and debt refinancing in the coming quarters. Overall, B. Riley’s outlook is positive and investors should consider Apple Hospitality REIT as a sound investment opportunity.
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