Apple Hospitality REIT (NYSE:APLE) Issues Earnings Results

Apple Hospitality REIT (NYSE:APLE) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21, Zacks reports. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%.

Apple Hospitality REIT Price Performance

NYSE APLE traded down $0.16 during mid-day trading on Monday, hitting $14.61. The stock had a trading volume of 3,821,951 shares, compared to its average volume of 1,828,329. The firm’s 50 day moving average is $15.29 and its 200 day moving average is $15.12. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $16.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 17.18 and a beta of 1.13.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 6.57%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Oppenheimer restated an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their target price for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.80.

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.