Wall Street brokerages forecast that Apple Hospitality REIT Inc (NYSE:APLE) will announce $331.06 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for Apple Hospitality REIT’s earnings, with the highest sales estimate coming in at $336.83 million and the lowest estimate coming in at $329.04 million. Apple Hospitality REIT reported sales of $332.20 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.3%. The business is scheduled to announce its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that Apple Hospitality REIT will report full year sales of $1.27 billion for the current year, with estimates ranging from $1.26 billion to $1.28 billion. For the next year, analysts expect that the firm will post sales of $1.28 billion, with estimates ranging from $1.27 billion to $1.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. The firm had revenue of $341.12 million for the quarter, compared to analysts’ expectations of $340.44 million. Apple Hospitality REIT had a return on equity of 5.75% and a net margin of 15.44%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.51 earnings per share.
APLE stock traded down $0.27 during mid-day trading on Tuesday, reaching $15.50. The company had a trading volume of 1,043,654 shares, compared to its average volume of 1,221,400. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.53 billion, a P/E ratio of 9.01, a P/E/G ratio of 1.92 and a beta of 0.82. Apple Hospitality REIT has a one year low of $13.81 and a one year high of $17.99. The stock’s 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $16.07.
The business also recently disclosed a monthly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date is Friday, August 30th. Apple Hospitality REIT’s dividend payout ratio is currently 69.77%.
In related news, Director Redd Hugh acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the purchase, the director now directly owns 92,154 shares in the company, valued at $1,463,405.52. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were bought at an average price of $15.39 per share, for a total transaction of $76,950.00. Following the completion of the purchase, the insider now owns 10,133,812 shares of the company’s stock, valued at $155,959,366.68. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,000 shares of company stock worth $139,810. Company insiders own 6.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Apple Hospitality REIT by 6.5% during the first quarter. BlackRock Inc. now owns 17,555,764 shares of the real estate investment trust’s stock worth $286,160,000 after acquiring an additional 1,063,975 shares during the period. Prudential Financial Inc. grew its holdings in Apple Hospitality REIT by 8.4% during the second quarter. Prudential Financial Inc. now owns 4,786,671 shares of the real estate investment trust’s stock worth $75,917,000 after acquiring an additional 369,771 shares during the period. Schroder Investment Management Group grew its holdings in Apple Hospitality REIT by 175.0% during the second quarter. Schroder Investment Management Group now owns 4,771,948 shares of the real estate investment trust’s stock worth $75,683,000 after acquiring an additional 3,036,672 shares during the period. Renaissance Technologies LLC grew its holdings in Apple Hospitality REIT by 19.6% during the second quarter. Renaissance Technologies LLC now owns 4,076,488 shares of the real estate investment trust’s stock worth $64,653,000 after acquiring an additional 668,400 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Apple Hospitality REIT by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,552,907 shares of the real estate investment trust’s stock worth $50,663,000 after acquiring an additional 70,176 shares during the period. Institutional investors and hedge funds own 59.05% of the company’s stock.
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 and most diverse portfolios of upscale, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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