Wall Street brokerages forecast that Apple Hospitality REIT Inc (NYSE:APLE) will announce $340.24 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Apple Hospitality REIT’s earnings, with the lowest sales estimate coming in at $339.21 million and the highest estimate coming in at $341.70 million. Apple Hospitality REIT posted sales of $324.93 million during the same quarter last year, which suggests a positive year over year growth rate of 4.7%. The firm is expected to report its next earnings results after the market closes on Monday, November 5th.
On average, analysts expect that Apple Hospitality REIT will report full-year sales of $1.28 billion for the current financial year. For the next financial year, analysts expect that the business will report sales of $1.31 billion, with estimates ranging from $1.30 billion to $1.32 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 quarterly earnings data on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.22). The company had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. Apple Hospitality REIT had a net margin of 13.55% and a return on equity of 4.80%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS.
APLE stock traded down $0.04 during midday trading on Wednesday, reaching $16.22. 1,671,509 shares of the company’s stock traded hands, compared to its average volume of 1,352,804. The firm has a market capitalization of $3.75 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 1.90 and a beta of 0.64. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.14. Apple Hospitality REIT has a 52 week low of $15.88 and a 52 week high of $20.19.
The firm also recently declared a monthly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, November 2nd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, November 1st. This represents a $1.20 dividend on an annualized basis and a yield of 7.40%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 68.97%.
In other news, Director Blythe J. Mcgarvie bought 11,500 shares of Apple Hospitality REIT stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $17.32 per share, for a total transaction of $199,180.00. Following the purchase, the director now directly owns 9,744 shares in the company, valued at approximately $168,766.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Justin G. Knight bought 6,000 shares of Apple Hospitality REIT stock in a transaction dated Thursday, August 23rd. The stock was purchased at an average price of $17.65 per share, with a total value of $105,900.00. Following the purchase, the insider now owns 1,109,681 shares in the company, valued at $19,585,869.65. The disclosure for this purchase can be found here. Insiders have acquired a total of 33,657 shares of company stock valued at $588,035 in the last 90 days. 6.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Meadow Creek Investment Management LLC grew its stake in shares of Apple Hospitality REIT by 597.5% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 84,256 shares of the real estate investment trust’s stock worth $1,506,000 after acquiring an additional 72,176 shares in the last quarter. US Bancorp DE grew its stake in shares of Apple Hospitality REIT by 98.9% in the 2nd quarter. US Bancorp DE now owns 9,872 shares of the real estate investment trust’s stock worth $177,000 after acquiring an additional 4,908 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Apple Hospitality REIT by 13.4% in the 2nd quarter. Sei Investments Co. now owns 169,954 shares of the real estate investment trust’s stock worth $3,039,000 after buying an additional 20,137 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Apple Hospitality REIT by 5.2% in the 2nd quarter. Northern Trust Corp now owns 4,478,291 shares of the real estate investment trust’s stock worth $80,073,000 after buying an additional 223,357 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Apple Hospitality REIT by 50.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 242,130 shares of the real estate investment trust’s stock worth $4,255,000 after buying an additional 80,834 shares during the last quarter. Hedge funds and other institutional investors own 56.63% 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 30,700 guest rooms located in 88 markets throughout 34 states.
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