Apple Hospitality REIT (NYSE:APLE) Announces Earnings Results

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.49, Bloomberg Earnings reports. Apple Hospitality REIT had a net margin of 15.84% and a return on equity of 5.82%. The business had revenue of $341.12 million during the quarter, compared to analysts’ expectations of $340.44 million. During the same quarter in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year.

Shares of APLE traded down $0.29 during mid-day trading on Monday, reaching $14.85. The company’s stock had a trading volume of 1,516,900 shares, compared to its average volume of 1,165,019. The firm has a market capitalization of $3.31 billion, a PE ratio of 8.63, a PEG ratio of 1.83 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.58 and a current ratio of 0.58. Apple Hospitality REIT has a 52 week low of $13.81 and a 52 week high of $17.99. The stock’s fifty day moving average price is $15.68.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, August 2nd will be issued a $0.10 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.08%. Apple Hospitality REIT’s payout ratio is 69.77%.

A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Apple Hospitality REIT from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Capital One Financial assumed coverage on shares of Apple Hospitality REIT in a research note on Tuesday, June 25th. They issued an “equal weight” rating and a $17.00 price target for the company. Finally, ValuEngine raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Apple Hospitality REIT has an average rating of “Hold” and an average target price of $18.25.

In other Apple Hospitality REIT news, Director Redd Hugh acquired 2,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the acquisition, the director now owns 92,154 shares in the company, valued at approximately $1,463,405.52. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Friday, May 17th. The stock was acquired at an average price of $16.42 per share, with a total value of $82,100.00. Following the completion of the acquisition, the chairman now owns 10,128,812 shares in the company, valued at approximately $166,315,093.04. The disclosure for this purchase can be found here. Insiders own 6.50% 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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

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Earnings History for Apple Hospitality REIT (NYSE:APLE)

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