Zacks: Brokerages Anticipate Apple Hospitality REIT, Inc. (APLE) Will Announce Quarterly Sales of $285.12 Million
Equities analysts expect Apple Hospitality REIT, Inc. (NYSE:APLE) to post $285.12 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Apple Hospitality REIT’s earnings, with the highest sales estimate coming in at $289.03 million and the lowest estimate coming in at $281.40 million. Apple Hospitality REIT posted sales of $282.43 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The firm is scheduled to issue its next earnings report on Monday, February 26th.
On average, analysts expect that Apple Hospitality REIT will report full year sales of $285.12 million for the current year, with estimates ranging from $1.23 billion to $1.24 billion. For the next financial year, analysts anticipate that the company will post sales of $1.25 billion per share, with estimates ranging from $1.23 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The company had revenue of $324.90 million for the quarter, compared to analysts’ expectations of $324.66 million. During the same period last year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year.
A number of brokerages recently weighed in on APLE. Robert W. Baird set a $20.00 price objective on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday. BidaskClub upgraded shares of Apple Hospitality REIT from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. B. Riley reiterated a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $19.00 price target (down from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.67.
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In related news, Director Redd Hugh purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average price of $17.96 per share, with a total value of $35,920.00. Following the purchase, the director now owns 59,495 shares of the company’s stock, valued at approximately $1,068,530.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $19.18 per share, for a total transaction of $95,900.00. Following the purchase, the insider now directly owns 10,046,357 shares in the company, valued at approximately $192,689,127.26. The disclosure for this purchase can be found here. Insiders purchased a total of 12,000 shares of company stock worth $220,970 in the last three months. 6.30% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group purchased a new position in Apple Hospitality REIT during the 2nd quarter valued at about $102,000. Public Employees Retirement Association of Colorado grew its stake in Apple Hospitality REIT by 26.7% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,603 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 1,393 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Apple Hospitality REIT by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,069 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 494 shares in the last quarter. IMS Capital Management purchased a new position in Apple Hospitality REIT during the 2nd quarter valued at about $140,000. Finally, Ffcm LLC grew its stake in Apple Hospitality REIT by 353.1% during the 2nd quarter. Ffcm LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $159,000 after acquiring an additional 6,526 shares in the last quarter. 49.78% of the stock is currently owned by institutional investors.
Shares of Apple Hospitality REIT (NYSE:APLE) traded up $0.11 during midday trading on Monday, hitting $19.24. 1,040,308 shares of the company were exchanged, compared to its average volume of 1,033,327. Apple Hospitality REIT has a fifty-two week low of $17.35 and a fifty-two week high of $20.68. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4,267.15, a PE ratio of 10.93, a P/E/G ratio of 2.21 and a beta of 0.60.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, November 3rd will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 6.24%. The ex-dividend date of this dividend is Thursday, November 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 118.81%.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of September 13, 2017, the Company owned 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 33 states.
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