stock-hospitality-reit-inc-logo.jpg” alt=”Apple Hospitality REIT logo” title=”Apple Hospitality REIT logo” class=”companylogo”/>Analysts expect Apple Hospitality REIT, Inc. (NYSE:APLE) to post sales of $156.33 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Apple Hospitality REIT’s earnings, with the highest sales estimate coming in at $184.13 million and the lowest estimate coming in at $142.00 million. Apple Hospitality REIT posted sales of $289.97 million during the same quarter last year, which suggests a negative year over year growth rate of 46.1%. The company is expected to announce its next earnings results on Monday, February 22nd.
On average, analysts expect that Apple Hospitality REIT will report full-year sales of $624.24 million for the current year, with estimates ranging from $609.90 million to $652.05 million. For the next fiscal year, analysts expect that the firm will post sales of $845.77 million, with estimates ranging from $769.41 million to $910.99 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Apple Hospitality REIT.
Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Thursday, November 5th. The real estate investment trust reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.24). Apple Hospitality REIT had a negative net margin of 12.73% and a negative return on equity of 3.05%.
A number of equities analysts have weighed in on APLE shares. ValuEngine upgraded shares of Apple Hospitality REIT from a “hold” rating to a “buy” rating in a research report on Friday, October 23rd. B. Riley lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and upped their price target for the stock from $13.00 to $14.00 in a research report on Wednesday, December 2nd. Compass Point started coverage on shares of Apple Hospitality REIT in a research report on Monday, October 5th. They issued a “buy” rating and a $13.00 price target for the company. Zacks Investment Research lowered shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Friday, December 11th. Finally, Wells Fargo & Company upped their price target on shares of Apple Hospitality REIT from $11.50 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, November 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.17.
APLE opened at $12.55 on Tuesday. The firm has a market cap of $2.80 billion, a P/E ratio of -29.19 and a beta of 1.29. Apple Hospitality REIT has a 1-year low of $4.48 and a 1-year high of $16.05. The company has a 50 day simple moving average of $13.05 and a two-hundred day simple moving average of $10.75. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.51 and a quick ratio of 0.51.
Several large investors have recently modified their holdings of the stock. Brookfield Asset Management Inc. bought a new position in shares of Apple Hospitality REIT during the second quarter worth $41,067,000. Heitman Real Estate Securities LLC purchased a new stake in Apple Hospitality REIT during the third quarter valued at $22,150,000. Charles Schwab Investment Management Inc. raised its stake in Apple Hospitality REIT by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,083,193 shares of the real estate investment trust’s stock valued at $20,020,000 after purchasing an additional 53,674 shares in the last quarter. FMR LLC raised its stake in Apple Hospitality REIT by 3.0% during the first quarter. FMR LLC now owns 1,836,402 shares of the real estate investment trust’s stock valued at $29,933,000 after purchasing an additional 53,390 shares in the last quarter. Finally, Land & Buildings Investment Management LLC purchased a new stake in Apple Hospitality REIT during the third quarter valued at $15,150,000. Hedge funds and other institutional investors own 58.11% of the company’s stock.
Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (ÂREITÂ) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality’s portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.
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