Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Apple Hospitality REIT (APLE)
NYSE:APLE
Holding APLE?
Track your performance easily
Earnings Data
Report Date
Feb 24, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.1Last Year’s EPS
$0.09Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 6.50%
|Next Earnings Date:Feb 24, 2025
Earnings Call Sentiment|Positive
The earnings call highlights the company's strong financial performance and strategic capital allocation, with improvements in business travel and efficient asset management. However, there are challenges with flat occupancy rates and increased operating expenses.Company Guidance
During the Apple Hospitality REIT's third quarter 2024 earnings call, the company provided a positive outlook for the remainder of the year and into 2025. They reported comparable hotels RevPAR growth of approximately 1% year-over-year for Q3 2024, with adjusted EBITDAre reaching $129 million, up 6% from Q3 2023. Modified funds from operations were $107 million, representing a 3% increase from the previous year. The company highlighted a strong dividend yield of approximately 6.5%, based on a $0.96 per share annualized distribution. They also discussed ongoing strategic capital allocation efforts, including the sale of seven hotels at a sub-7% cap rate and share repurchases totaling $35 million year-to-date. The company remains focused on leveraging favorable supply-demand dynamics, with 54% of their hotels having no new competing constructions within a five-mile radius, and is optimistic about continued growth in business travel and operational performance, projecting full-year 2024 RevPAR growth between 0.75% and 2%.Strong RevPAR Growth
Comparable hotels RevPAR grew by approximately 1% compared to Q3 2023, with a 4% increase in RevPAR for October 2024 compared to October 2023.
Improvement in Business Travel
There was a steady improvement in business travel demand, which is the primary driver of overall growth, with midweek occupancy increasing.
Successful Asset Dispositions
Sale of 3 hotels for $41 million and contracts for 4 additional hotel sales for $31 million, contributing to strategic portfolio optimization.
Strong Dividend and Financial Performance
Annualized regular monthly cash distribution represents a 6.5% yield. Adjusted EBITDAre was $129 million, up 6%, and modified funds from operations was $107 million, up 3% compared to Q3 2023.
Efficient Capital Allocation
Repurchased approximately 2.4 million shares year-to-date at an average price of $14.16 per share, totaling $35 million.
---
APLE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
APLE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $14.66 | $14.69 | +0.20% |
| Aug 05, 2024 | $13.67 | $13.74 | +0.51% |
| May 06, 2024 | $14.25 | $14.31 | +0.42% |
| Feb 22, 2024 | $15.43 | $15.41 | -0.13% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Apple Hospitality REIT (APLE) report earnings?
Apple Hospitality REIT (APLE) is schdueled to report earning on Feb 24, 2025, After Close Not Confirmed.
What is Apple Hospitality REIT (APLE) earnings time?
Apple Hospitality REIT (APLE) earnings time is at Feb 24, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is APLE EPS forecast?
APLE EPS forecast for the fiscal quarter 2024 (Q4) is $0.1.
---