Brokerages expect Apple Hospitality REIT (NYSE:APLE) to report sales of $298.77 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Apple Hospitality REIT’s earnings, with estimates ranging from $295.42 million to $301.22 million. Apple Hospitality REIT posted sales of $292.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The business is expected to issue its next earnings results after the market closes on Monday, May 7th.
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 $1.28 billion. For the next financial year, analysts expect that the company will post sales of $1.31 billion per share, with estimates ranging from $1.30 billion to $1.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Thursday, February 22nd. The real estate investment trust reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Apple Hospitality REIT had a net margin of 14.73% and a return on equity of 5.19%. The company had revenue of $289.07 million during the quarter, compared to analysts’ expectations of $288.75 million. During the same quarter last year, the business earned $0.37 EPS. The business’s revenue was up 2.4% on a year-over-year basis.
Several brokerages recently commented on APLE. ValuEngine cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. B. Riley set a $20.00 price objective on shares of Apple Hospitality REIT and gave the company a “hold” rating in a research note on Friday, February 23rd. Robert W. Baird reiterated a “buy” rating and issued a $21.00 price objective on shares of Apple Hospitality REIT in a research note on Friday, January 12th. TheStreet cut shares of Apple Hospitality REIT from a “b” rating to a “c” rating in a research note on Thursday, February 8th. Finally, Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.20.
Shares of APLE stock remained flat at $$17.87 during mid-day trading on Tuesday. 340,982 shares of the stock traded hands, compared to its average volume of 1,499,784. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.04 and a quick ratio of 0.04. Apple Hospitality REIT has a one year low of $16.72 and a one year high of $20.19. The firm has a market cap of $4,139.07, a PE ratio of 10.27, a PEG ratio of 2.05 and a beta of 0.65.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 15th. Investors of record on Wednesday, May 2nd will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend is Tuesday, May 1st. Apple Hospitality REIT’s dividend payout ratio (DPR) is 68.97%.
In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,800 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average cost of $17.10 per share, for a total transaction of $99,180.00. Following the acquisition, the chairman now owns 10,052,157 shares of the company’s stock, valued at approximately $171,891,884.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin G. Knight bought 2,800 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were acquired at an average price of $17.38 per share, with a total value of $48,664.00. Following the completion of the acquisition, the insider now directly owns 1,109,681 shares in the company, valued at approximately $19,286,255.78. The disclosure for this purchase can be found here. Insiders purchased 33,504 shares of company stock valued at $573,262 in the last quarter. Company insiders own 6.30% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Apple Hospitality REIT by 4.6% during the 4th quarter. BlackRock Inc. now owns 15,059,145 shares of the real estate investment trust’s stock valued at $295,311,000 after acquiring an additional 656,597 shares in the last quarter. PGGM Investments purchased a new stake in shares of Apple Hospitality REIT during the fourth quarter worth about $70,988,000. Dimensional Fund Advisors LP grew its holdings in shares of Apple Hospitality REIT by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 2,941,920 shares of the real estate investment trust’s stock worth $55,632,000 after buying an additional 59,310 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Apple Hospitality REIT by 19.0% during the fourth quarter. Geode Capital Management LLC now owns 2,369,947 shares of the real estate investment trust’s stock worth $46,474,000 after buying an additional 378,259 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Apple Hospitality REIT by 7.4% during the fourth 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 buying an additional 160,746 shares in the last quarter. Hedge funds and other institutional investors own 54.49% of the company’s stock.
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Apple Hospitality REIT Company Profile
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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