Apple Hospitality REIT (NYSE:APLE) Announces Quarterly Earnings Results

Apple Hospitality REIT (NYSE:APLE) posted its earnings results on Monday. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13), Yahoo Finance reports. The firm had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. During the same quarter last year, the business posted $0.49 earnings per share.

Apple Hospitality REIT Trading Up 0.5 %

NYSE:APLE opened at $14.03 on Wednesday. The company has a market cap of $3.40 billion, a P/E ratio of 16.31 and a beta of 1.11. Apple Hospitality REIT has a twelve month low of $13.72 and a twelve month high of $17.90. The business has a 50 day moving average price of $14.52 and a two-hundred day moving average price of $15.33. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48.

Apple Hospitality REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.84%. The ex-dividend date of this dividend is Wednesday, July 31st. Apple Hospitality REIT’s dividend payout ratio is presently 111.63%.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average price of $14.78 per share, with a total value of $73,900.00. Following the completion of the transaction, the chairman now owns 631,990 shares in the company, valued at $9,340,812.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on APLE. Wedbush initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price objective for the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and an average target price of $17.40.

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.