Apple Hospitality REIT, Inc. (NYSE:APLE) Expected to Post Quarterly Sales of $243.88 Million

Brokerages expect Apple Hospitality REIT, Inc. (NYSE:APLE) to report $243.88 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Apple Hospitality REIT’s earnings. The highest sales estimate is $260.17 million and the lowest is $233.25 million. Apple Hospitality REIT posted sales of $133.97 million in the same quarter last year, which would indicate a positive year over year growth rate of 82%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 22nd.

According to Zacks, analysts expect that Apple Hospitality REIT will report full-year sales of $922.32 million for the current year, with estimates ranging from $906.30 million to $943.45 million. For the next fiscal year, analysts anticipate that the company will report sales of $1.17 billion, with estimates ranging from $1.05 billion to $1.22 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Thursday, November 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.16). Apple Hospitality REIT had a negative return on equity of 1.49% and a negative net margin of 5.58%. During the same quarter in the previous year, the business earned $0.04 earnings per share.

Several analysts have recently commented on APLE shares. Wells Fargo & Company lowered shares of Apple Hospitality REIT from an “equal weight” rating to an “underweight” rating in a research report on Monday, October 18th. TheStreet upgraded shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, November 19th. Finally, Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.67.

In other news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, November 9th. The shares were acquired at an average cost of $16.04 per share, for a total transaction of $80,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kristian M. Gathright sold 5,642 shares of the business’s stock in a transaction dated Thursday, November 4th. The stock was sold at an average price of $16.75, for a total transaction of $94,503.50. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management raised its stake in shares of Apple Hospitality REIT by 51.8% in the 4th quarter. Spire Wealth Management now owns 10,294 shares of the real estate investment trust’s stock valued at $166,000 after acquiring an additional 3,512 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Apple Hospitality REIT in the 4th quarter worth about $62,000. UBS Asset Management Americas Inc. lifted its position in shares of Apple Hospitality REIT by 11.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 946,326 shares of the real estate investment trust’s stock worth $14,886,000 after buying an additional 100,416 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Apple Hospitality REIT by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,411,375 shares of the real estate investment trust’s stock worth $22,202,000 after buying an additional 64,881 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Apple Hospitality REIT by 17.4% in the 3rd quarter. Janus Henderson Group PLC now owns 3,539,775 shares of the real estate investment trust’s stock worth $55,681,000 after buying an additional 524,141 shares during the last quarter. Institutional investors and hedge funds own 79.49% of the company’s stock.

Shares of APLE stock traded up $0.07 during trading on Friday, hitting $16.79. 832,875 shares of the stock traded hands, compared to its average volume of 1,737,397. The firm has a market capitalization of $3.83 billion, a P/E ratio of -79.95 and a beta of 1.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s fifty day moving average price is $15.89 and its 200-day moving average price is $15.49. Apple Hospitality REIT has a 52-week low of $12.31 and a 52-week high of $17.44.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Friday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently -19.05%.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. It owns hotels located in urban, high-end suburban, and developing markets throughout states, which operates under Marriott, Hilton, or Hyatt brands.

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Earnings History and Estimates for Apple Hospitality REIT (NYSE:APLE)

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