Apple Hospitality REIT (NYSE:APLE) Issues Earnings Results

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

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $14.76 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $3.58 billion, a PE ratio of 17.36 and a beta of 1.11. The firm’s 50-day moving average is $14.76 and its two-hundred day moving average is $14.62. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $17.90.

Apple Hospitality REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the purchase, the chairman now owns 636,990 shares in the company, valued at $8,943,339.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on APLE. Oppenheimer restated an “outperform” rating and set a $17.00 price target on shares of Apple Hospitality REIT in a research note on Friday, October 4th. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lowered their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.25.

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.