Brokerages expect that Apple Hospitality REIT Inc (NYSE:APLE) will report $340.69 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Apple Hospitality REIT’s earnings, with the highest sales estimate coming in at $342.48 million and the lowest estimate coming in at $339.68 million. Apple Hospitality REIT posted sales of $344.71 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.2%. The firm is expected to report its next quarterly earnings report on Monday, August 5th.

According to Zacks, 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 financial year, analysts forecast that the company will report 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 analysts that follow Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.20). Apple Hospitality REIT had a return on equity of 5.82% and a net margin of 15.84%. The firm had revenue of $303.79 million for the quarter, compared to analysts’ expectations of $303.62 million. During the same period last year, the business earned $0.38 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis.

Several analysts have recently weighed in on APLE shares. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Thursday, March 21st. B. Riley reissued a “buy” rating on shares of Apple Hospitality REIT in a report on Tuesday, February 26th. ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Barclays reissued a “hold” rating and set a $18.00 price objective on shares of Apple Hospitality REIT in a report on Sunday, February 10th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.00.

Shares of APLE traded down $0.02 during midday trading on Monday, reaching $16.21. 696,273 shares of the stock were exchanged, compared to its average volume of 1,098,342. Apple Hospitality REIT has a 12-month low of $13.81 and a 12-month high of $19.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $3.66 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.98 and a beta of 0.85.

The business also recently declared a monthly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 7.40%. The ex-dividend date of this dividend is Friday, May 31st. Apple Hospitality REIT’s dividend payout ratio is 69.77%.

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $16.42 per share, with a total value of $82,100.00. Following the purchase, the chairman now directly owns 10,128,812 shares in the company, valued at $166,315,093.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daryl Arthur Nickel purchased 24,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $16.44 per share, for a total transaction of $394,560.00. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 35,000 shares of company stock worth $575,740. 6.50% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Apple Hospitality REIT by 107.3% in the third quarter. JPMorgan Chase & Co. now owns 658,284 shares of the real estate investment trust’s stock valued at $11,513,000 after purchasing an additional 340,701 shares during the last quarter. AQR Capital Management LLC acquired a new position in Apple Hospitality REIT during the 3rd quarter valued at about $295,000. State of Alaska Department of Revenue boosted its stake in Apple Hospitality REIT by 16.4% during the 4th quarter. State of Alaska Department of Revenue now owns 107,521 shares of the real estate investment trust’s stock valued at $1,532,000 after purchasing an additional 15,180 shares during the last quarter. Virtu Financial LLC acquired a new position in Apple Hospitality REIT during the 4th quarter valued at about $402,000. Finally, IFP Advisors Inc boosted its stake in Apple Hospitality REIT by 160.2% during the 4th quarter. IFP Advisors Inc now owns 3,966 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 2,442 shares during the last quarter. 57.27% of the stock is currently owned by institutional investors and hedge funds.

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

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