Apple Hospitality REIT (NYSE:APLE) Announces Earnings Results, Misses Estimates By $0.22 EPS

Apple Hospitality REIT (NYSE:APLE) released its 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. The company had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period in the previous year, the business posted $0.45 EPS.

Apple Hospitality REIT Stock Down 1.8 %

Shares of APLE stock opened at $14.47 on Tuesday. The stock’s 50 day simple moving average is $14.75 and its 200 day simple moving average is $14.62. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. 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 company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 16.74 and a beta of 1.11.

Apple Hospitality REIT Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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