Apple Hospitality REIT (NYSE:APLE) Announces Quarterly Earnings Results, Misses Estimates By $0.13 EPS

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

Apple Hospitality REIT Stock Down 0.2 %

APLE stock traded down $0.03 during mid-day trading on Wednesday, reaching $14.00. 688,202 shares of the company traded hands, compared to its average volume of 2,103,458. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average price is $14.52 and its 200 day moving average price is $15.33. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 16.31 and a beta of 1.11. Apple Hospitality REIT has a fifty-two week low of $13.72 and a fifty-two week high of $17.90.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a $0.08 dividend. The ex-dividend date is Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.86%. Apple Hospitality REIT’s dividend payout ratio is presently 111.63%.

Analysts Set New Price Targets

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

Insider Activity at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Tuesday, May 21st. The stock was acquired at an average cost of $14.78 per share, with a total value of $73,900.00. Following the transaction, the chairman now owns 631,990 shares of the company’s stock, valued at approximately $9,340,812.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by insiders.

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.