Apple Hospitality REIT Inc (APLE) Expected to Announce Quarterly Sales of $287.33 Million

Wall Street analysts expect Apple Hospitality REIT Inc (NYSE:APLE) to report sales of $287.33 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Apple Hospitality REIT’s earnings, with estimates ranging from $285.49 million to $288.50 million. Apple Hospitality REIT posted sales of $282.43 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The company is scheduled to report its next earnings report on Monday, February 26th.

On average, analysts expect that Apple Hospitality REIT will report full year sales of $287.33 million for the current fiscal year. For the next financial year, analysts anticipate that the firm will post sales of $1.26 billion per share, with estimates ranging from $1.26 billion to $1.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a net margin of 18.37% and a return on equity of 6.46%. The business had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was up 17.5% on a year-over-year basis.

A number of equities research analysts recently weighed in on APLE shares. BidaskClub downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Robert W. Baird set a $20.00 price target on shares of Apple Hospitality REIT and gave the stock a “buy” rating in a research note on Sunday, October 29th. TheStreet upgraded shares of Apple Hospitality REIT from a “c” rating to a “b-” rating in a report on Friday, December 8th. Finally, B. Riley restated a “neutral” rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.67.

Apple Hospitality REIT (APLE) opened at $19.30 on Friday. Apple Hospitality REIT has a 1-year low of $17.49 and a 1-year high of $20.68. The stock has a market cap of $4,358.61, a PE ratio of 11.17, a P/E/G ratio of 2.22 and a beta of 0.62. 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 also recently declared a monthly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend is Tuesday, January 2nd. Apple Hospitality REIT’s dividend payout ratio (DPR) is currently 118.81%.

In other news, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were purchased at an average cost of $19.18 per share, with a total value of $95,900.00. Following the completion of the transaction, the insider now owns 10,046,357 shares of the company’s stock, valued at approximately $192,689,127.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of Apple Hospitality REIT by 4.2% in the second quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock valued at $220,000 after acquiring an additional 471 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Apple Hospitality REIT by 7.5% in the second 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. GAM Holding AG grew its stake in shares of Apple Hospitality REIT by 2.8% in the second quarter. GAM Holding AG now owns 18,100 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 500 shares in the last quarter. Ken Stern & Associates Inc. grew its stake in shares of Apple Hospitality REIT by 5.4% in the second quarter. Ken Stern & Associates Inc. now owns 12,606 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 647 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Apple Hospitality REIT by 4.5% in the second quarter. Rafferty Asset Management LLC now owns 31,119 shares of the real estate investment trust’s stock valued at $582,000 after acquiring an additional 1,338 shares in the last quarter. Institutional investors and hedge funds own 50.91% of the company’s stock.

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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 December 5, 2017, the Company owned 239 hotels, with more than 30,300 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.

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