Apple Hospitality REIT (NYSE:APLE) Releases Earnings Results

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22), Zacks reports. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The company had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same period last year, the firm posted $0.45 earnings per share.

Apple Hospitality REIT Trading Down 1.8 %

Apple Hospitality REIT stock opened at $14.47 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The firm’s 50-day moving average is $14.75 and its 200-day moving average is $14.62. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a market cap of $3.51 billion, a P/E ratio of 16.74 and a beta of 1.11.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.63%. The ex-dividend date is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is currently 109.09%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on APLE shares. Wells Fargo & Company decreased their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Oppenheimer reiterated an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $16.25.

Insider Activity

In related news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the purchase, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Company Profile

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.