Brokerages expect that Apple Hospitality REIT, Inc. (NYSE:APLE) will post $324.76 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 $323.84 million and the highest estimate coming in at $326.14 million. Apple Hospitality REIT posted sales of $276.47 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.5%. The firm is expected to issue its next earnings results on Monday, November 6th.

On average, analysts expect that Apple Hospitality REIT will report full-year sales of $324.76 million for the current year, with estimates ranging from $1.23 billion to $1.24 billion. For the next fiscal 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 calculations are an average based on a survey of sell-side research analysts that cover Apple Hospitality REIT.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, August 7th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $331.70 million for the quarter, compared to the consensus estimate of $335.94 million. Apple Hospitality REIT had a return on equity of 5.05% and a net margin of 14.97%. The company’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share.

Several brokerages recently issued reports on APLE. 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 note on Friday, August 11th. BidaskClub lowered shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $21.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $20.00.

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In other news, Chairman Glade M. Knight acquired 20,000 shares of Apple Hospitality REIT stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $17.62 per share, for a total transaction of $352,400.00. Following the purchase, the chairman now owns 10,041,357 shares in the company, valued at $176,928,710.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justin G. Knight acquired 17,000 shares of Apple Hospitality REIT stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $17.62 per share, with a total value of $299,540.00. Following the completion of the purchase, the insider now owns 1,005,274 shares in the company, valued at approximately $17,712,927.88. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 45,000 shares of company stock valued at $794,950. 6.30% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. National Asset Management Inc. increased its stake in Apple Hospitality REIT by 1.0% during the 1st quarter. National Asset Management Inc. now owns 35,627 shares of the real estate investment trust’s stock valued at $682,000 after purchasing an additional 348 shares in the last quarter. SG Americas Securities LLC increased its stake in Apple Hospitality REIT by 4.2% during the 2nd quarter. SG Americas Securities LLC now owns 11,771 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 471 shares in the last quarter. The Manufacturers Life Insurance Company increased 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 purchasing an additional 494 shares in the last quarter. GAM Holding AG increased its stake in Apple Hospitality REIT by 2.8% during the 2nd quarter. GAM Holding AG now owns 18,100 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 500 shares in the last quarter. Finally, Ken Stern & Associates Inc. increased its stake in Apple Hospitality REIT by 5.4% during the 2nd quarter. Ken Stern & Associates Inc. now owns 12,606 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 647 shares in the last quarter. Institutional investors and hedge funds own 49.18% of the company’s stock.

Shares of Apple Hospitality REIT (NYSE:APLE) opened at 18.86 on Thursday. The stock’s 50 day moving average is $18.40 and its 200 day moving average is $18.67. The company has a market capitalization of $4.21 billion, a P/E ratio of 22.89 and a beta of 0.61. Apple Hospitality REIT has a 52-week low of $17.32 and a 52-week high of $20.68.

The company also recently disclosed a monthly dividend, which will be paid on Monday, October 16th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 6.36%. Apple Hospitality REIT’s dividend payout ratio is currently 150.00%.

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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