$340.24 Million in Sales Expected for Apple Hospitality REIT Inc (APLE) This Quarter
Equities research analysts predict that Apple Hospitality REIT Inc (NYSE:APLE) will post $340.24 million in sales for the current quarter, according to Zacks. Three analysts have provided 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 reported sales of $324.93 million in the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The company is scheduled to issue its next quarterly earnings results on Monday, November 5th.
On average, analysts expect that Apple Hospitality REIT will report full-year sales of $1.28 billion for the current year. For the next financial year, analysts forecast that the business will report sales of $1.31 billion per share, with estimates ranging from $1.30 billion to $1.32 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, August 6th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.22). Apple Hospitality REIT had a return on equity of 4.80% and a net margin of 13.55%. The firm had revenue of $344.70 million during the quarter, compared to the consensus estimate of $347.27 million. During the same period last year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year.
Shares of APLE stock opened at $17.32 on Thursday. Apple Hospitality REIT has a 12-month low of $16.72 and a 12-month high of $20.19. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $4.03 billion, a PE ratio of 9.95, a PEG ratio of 2.02 and a beta of 0.64.
The business also recently disclosed a monthly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, August 31st. This represents a $1.20 annualized dividend and a yield of 6.93%. Apple Hospitality REIT’s payout ratio is currently 68.97%.
In related news, insider Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Friday, August 10th. The shares were bought at an average cost of $17.33 per share, with a total value of $86,650.00. Following the completion of the purchase, the insider now directly owns 10,098,533 shares of the company’s stock, valued at approximately $175,007,576.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blythe J. Mcgarvie acquired 11,500 shares of Apple Hospitality REIT stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $17.32 per share, for a total transaction of $199,180.00. Following the completion of the purchase, the director now directly owns 9,744 shares of the company’s stock, valued at $168,766.08. The disclosure for this purchase can be found here. Insiders have acquired 33,657 shares of company stock worth $588,035 over the last three months. 6.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA grew its stake in shares of Apple Hospitality REIT by 6.3% during the second quarter. BNP Paribas Arbitrage SA now owns 49,841 shares of the real estate investment trust’s stock valued at $891,000 after buying an additional 2,973 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Apple Hospitality REIT by 2.5% during the second quarter. Nomura Asset Management Co. Ltd. now owns 133,100 shares of the real estate investment trust’s stock valued at $2,380,000 after buying an additional 3,300 shares during the last quarter. Lido Advisors LLC grew its stake in shares of Apple Hospitality REIT by 18.0% during the first quarter. Lido Advisors LLC now owns 22,475 shares of the real estate investment trust’s stock valued at $394,000 after buying an additional 3,425 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Apple Hospitality REIT by 10.9% during the first quarter. Hsbc Holdings PLC now owns 35,246 shares of the real estate investment trust’s stock valued at $619,000 after buying an additional 3,450 shares during the last quarter. Finally, HGK Asset Management Inc. grew its stake in shares of Apple Hospitality REIT by 15.3% during the second quarter. HGK Asset Management Inc. now owns 27,181 shares of the real estate investment trust’s stock valued at $486,000 after buying an additional 3,598 shares during the last quarter. 56.55% of the stock is currently owned by institutional investors.
About Apple Hospitality REIT
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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