Equities research analysts predict that Apple Hospitality REIT (NYSE:APLE) will report sales of $344.71 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Apple Hospitality REIT’s earnings. The highest sales estimate is $348.78 million and the lowest is $337.26 million. Apple Hospitality REIT reported sales of $331.70 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The firm is scheduled to announce its next earnings report on Monday, August 6th.
According to Zacks, analysts expect that Apple Hospitality REIT will report full-year sales of $1.28 billion for the current year, with estimates ranging from $1.26 billion to $1.29 billion. For the next year, analysts anticipate that the business will report sales of $1.32 billion per share, with estimates ranging from $1.31 billion to $1.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 7th. The real estate investment trust reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.21). Apple Hospitality REIT had a net margin of 15.30% and a return on equity of 5.38%. The company had revenue of $298.40 million for the quarter, compared to the consensus estimate of $299.89 million. During the same quarter last year, the company earned $0.39 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year.
APLE has been the topic of a number of research analyst reports. TheStreet downgraded shares of Apple Hospitality REIT from a “b” rating to a “c” rating in a research note on Thursday, February 8th. Barclays initiated coverage on shares of Apple Hospitality REIT in a research note on Wednesday, January 31st. They set an “equal weight” rating and a $21.00 price objective on the stock. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine downgraded shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, B. Riley set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “hold” rating in a research report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Apple Hospitality REIT currently has a consensus rating of “Hold” and an average price target of $20.00.
In other Apple Hospitality REIT news, insider Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 14th. The shares were bought at an average cost of $18.52 per share, for a total transaction of $92,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nelson Knight purchased 4,313 shares of Apple Hospitality REIT stock in a transaction dated Thursday, March 15th. The stock was acquired at an average price of $17.35 per share, for a total transaction of $74,830.55. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 38,504 shares of company stock worth $665,862. Insiders own 6.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter worth about $393,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Apple Hospitality REIT by 7.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,327,873 shares of the real estate investment trust’s stock worth $45,650,000 after acquiring an additional 160,746 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Apple Hospitality REIT in the 4th quarter worth about $298,000. State of Alaska Department of Revenue increased its holdings in shares of Apple Hospitality REIT by 11.3% in the 4th quarter. State of Alaska Department of Revenue now owns 128,040 shares of the real estate investment trust’s stock worth $2,509,000 after acquiring an additional 12,970 shares during the period. Finally, Strs Ohio increased its holdings in shares of Apple Hospitality REIT by 3.4% in the 4th quarter. Strs Ohio now owns 273,327 shares of the real estate investment trust’s stock worth $5,359,000 after acquiring an additional 9,110 shares during the period. Institutional investors own 55.83% of the company’s stock.
NYSE APLE traded up $0.08 during trading hours on Monday, reaching $19.05. 63,116 shares of the company traded hands, compared to its average volume of 1,177,357. Apple Hospitality REIT has a 12 month low of $16.72 and a 12 month high of $20.19. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 2.14 and a beta of 0.64.
The firm also recently declared a monthly dividend, which will be paid on Monday, June 18th. Stockholders of record on Monday, June 4th will be given a $0.10 dividend. The ex-dividend date is Friday, June 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.30%. Apple Hospitality REIT’s payout ratio is currently 68.97%.
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 portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states.
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