Analysts expect Apple Hospitality REIT Inc (NYSE:APLE) to announce $344.71 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Apple Hospitality REIT’s earnings, with estimates ranging from $337.26 million to $348.78 million. Apple Hospitality REIT reported sales of $331.70 million during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The firm is scheduled to issue its next quarterly earnings results after the market closes 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 financial year, with estimates ranging from $1.26 billion to $1.29 billion. For the next fiscal year, analysts forecast 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 an average based on a survey of sell-side research firms that follow Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.21). The company had revenue of $298.40 million during the quarter, compared to the consensus estimate of $299.89 million. Apple Hospitality REIT had a net margin of 15.30% and a return on equity of 5.38%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share.
Several equities research analysts have weighed in on APLE shares. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th. ValuEngine cut 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 target price on Apple Hospitality REIT and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Finally, TheStreet upgraded Apple Hospitality REIT from a “c” rating to a “b-” rating in a research note on Friday, May 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
Apple Hospitality REIT traded down $0.18, hitting $17.88, on Monday, according to Marketbeat.com. 2,809,829 shares of the company’s stock were exchanged, compared to its average volume of 1,328,741. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.06 and a quick ratio of 0.06. Apple Hospitality REIT has a 52 week low of $16.72 and a 52 week high of $20.19. The stock has a market capitalization of $4.18 billion, a PE ratio of 10.28, a PEG ratio of 2.08 and a beta of 0.67.
The firm also recently announced a monthly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be paid a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 6.71%. The ex-dividend date is Friday, June 29th. Apple Hospitality REIT’s payout ratio is presently 68.97%.
In other Apple Hospitality REIT news, insider Glade M. Knight bought 5,000 shares of the business’s stock in a transaction on Monday, May 14th. The stock was purchased at an average cost of $18.52 per share, for a total transaction of $92,600.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in APLE. Long Pond Capital LP bought a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $64,798,000. Prudential Financial Inc. lifted its stake in shares of Apple Hospitality REIT by 160.8% in the 1st quarter. Prudential Financial Inc. now owns 3,307,448 shares of the real estate investment trust’s stock valued at $58,112,000 after acquiring an additional 2,039,311 shares during the last quarter. Northern Trust Corp increased its holdings in Apple Hospitality REIT by 71.8% in the first quarter. Northern Trust Corp now owns 4,254,934 shares of the real estate investment trust’s stock valued at $74,759,000 after purchasing an additional 1,778,458 shares during the period. Wells Fargo & Company MN increased its holdings in Apple Hospitality REIT by 73.9% in the first quarter. Wells Fargo & Company MN now owns 3,294,716 shares of the real estate investment trust’s stock valued at $57,889,000 after purchasing an additional 1,400,124 shares during the period. Finally, Nuveen Asset Management LLC increased its holdings in Apple Hospitality REIT by 510.0% in the first quarter. Nuveen Asset Management LLC now owns 1,283,257 shares of the real estate investment trust’s stock valued at $22,547,000 after purchasing an additional 1,072,898 shares during the period. Institutional investors own 55.73% 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 242 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.
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