Equities research analysts expect Apple Hospitality REIT Inc (NYSE:APLE) to announce sales of $297.40 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Apple Hospitality REIT’s earnings. The highest sales estimate is $300.03 million and the lowest is $295.61 million. Apple Hospitality REIT posted sales of $289.07 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The business is expected to report its next quarterly earnings report on Thursday, February 28th.
On average, analysts expect that Apple Hospitality REIT will report full-year sales of $1.28 billion for the current fiscal year, with estimates ranging from $1.27 billion to $1.28 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.29 billion, with estimates ranging from $1.25 billion to $1.32 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.21). The company had revenue of $332.20 million for the quarter, compared to analysts’ expectations of $340.17 million. Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research note on Tuesday, November 6th. Finally, ValuEngine lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.25.
Shares of APLE opened at $15.68 on Friday. The firm has a market cap of $3.65 billion, a PE ratio of 9.01, a P/E/G ratio of 1.86 and a beta of 0.69. Apple Hospitality REIT has a 12-month low of $15.56 and a 12-month high of $20.19.
The company also recently disclosed a monthly dividend, which was paid on Thursday, November 15th. Investors of record on Friday, November 2nd were issued a $0.10 dividend. The ex-dividend date was Thursday, November 1st. This represents a $1.20 annualized dividend and a dividend yield of 7.65%. Apple Hospitality REIT’s payout ratio is currently 68.97%.
In other news, insider Glade M. Knight acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The stock was purchased at an average cost of $17.63 per share, for a total transaction of $176,300.00. Following the completion of the acquisition, the insider now directly owns 10,098,933 shares of the company’s stock, valued at approximately $178,044,188.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Redd Hugh acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average price of $16.18 per share, with a total value of $48,540.00. Following the completion of the acquisition, the director now directly owns 86,154 shares of the company’s stock, valued at $1,393,971.72. The disclosure for this purchase can be found here. Insiders purchased 33,624 shares of company stock valued at $564,183 over the last 90 days. 6.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Apple Hospitality REIT by 0.9% in the third quarter. BlackRock Inc. now owns 15,932,503 shares of the real estate investment trust’s stock worth $278,660,000 after purchasing an additional 147,617 shares in the last quarter. Northern Trust Corp raised its holdings in Apple Hospitality REIT by 5.2% in the second quarter. Northern Trust Corp now owns 4,478,291 shares of the real estate investment trust’s stock worth $80,073,000 after purchasing an additional 223,357 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Apple Hospitality REIT by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,326,033 shares of the real estate investment trust’s stock worth $59,472,000 after purchasing an additional 129,108 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Apple Hospitality REIT by 9.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,739,450 shares of the real estate investment trust’s stock worth $48,982,000 after purchasing an additional 244,976 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Apple Hospitality REIT by 47.9% in the third quarter. Renaissance Technologies LLC now owns 2,420,300 shares of the real estate investment trust’s stock worth $42,331,000 after purchasing an additional 783,900 shares in the last quarter. Hedge funds and other institutional investors own 57.58% of the company’s stock.
About Apple Hospitality REIT
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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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