Brokerages expect Apple Hospitality REIT (NYSE:APLE) to announce sales of $344.71 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Apple Hospitality REIT’s earnings, with the lowest sales estimate coming in at $337.26 million and the highest estimate coming in at $348.78 million. Apple Hospitality REIT posted sales of $331.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The company is scheduled to report its next quarterly 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 financial year, with estimates ranging from $1.26 billion to $1.29 billion. For the next fiscal year, analysts expect that the business will report sales of $1.32 billion per share, with estimates ranging from $1.31 billion to $1.33 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Apple Hospitality REIT.
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Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, May 7th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.21). Apple Hospitality REIT had a return on equity of 5.38% and a net margin of 15.30%. The firm had revenue of $298.40 million during the quarter, compared to the consensus estimate of $299.89 million. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis.
APLE has been the subject of a number of recent analyst reports. TheStreet raised shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a research report on Friday, May 18th. Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Tuesday, May 8th. Robert W. Baird set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research note on Monday, February 26th. Barclays began coverage on shares of Apple Hospitality REIT in a research note on Wednesday, January 31st. They issued an “equal weight” rating and a $21.00 target price on the stock. Finally, B. Riley set a $20.00 target price on shares of Apple Hospitality REIT and gave the company a “hold” rating in a research note on Tuesday, May 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.00.
In other Apple Hospitality REIT news, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on 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 purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Glade M. Knight purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average price of $17.16 per share, for a total transaction of $171,600.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 38,504 shares of company stock worth $665,862. Corporate insiders own 6.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in APLE. Global X Management Co. LLC lifted its stake in Apple Hospitality REIT by 21.7% in the 4th quarter. Global X Management Co. LLC now owns 90,763 shares of the real estate investment trust’s stock worth $1,780,000 after purchasing an additional 16,175 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Apple Hospitality REIT by 63.0% during the 4th quarter. Aperio Group LLC now owns 200,255 shares of the real estate investment trust’s stock valued at $3,927,000 after purchasing an additional 77,379 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Apple Hospitality REIT by 34.9% during the 4th quarter. Millennium Management LLC now owns 1,692,008 shares of the real estate investment trust’s stock valued at $33,180,000 after purchasing an additional 437,618 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Apple Hospitality REIT during the 4th quarter valued at $3,162,000. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Apple Hospitality REIT by 74.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 18,195 shares of the real estate investment trust’s stock valued at $330,000 after purchasing an additional 7,766 shares during the last quarter. Institutional investors own 55.83% of the company’s stock.
APLE stock traded up $0.01 during trading on Monday, reaching $19.06. The stock had a trading volume of 729,212 shares, compared to its average volume of 1,196,227. Apple Hospitality REIT has a one year low of $16.72 and a one year high of $20.19. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 2.18 and a beta of 0.64.
The business also recently announced a monthly dividend, which will be paid on Monday, June 18th. Shareholders of record on Monday, June 4th will be paid a $0.10 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Friday, June 1st. Apple Hospitality REIT’s payout ratio is 68.97%.
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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