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

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

Apple Hospitality REIT Stock Up 0.5 %

Shares of Apple Hospitality REIT stock opened at $14.03 on Wednesday. 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 business has a 50-day moving average price of $14.52 and a 200 day moving average price of $15.33. Apple Hospitality REIT has a fifty-two week low of $13.72 and a fifty-two week high of $17.90. The firm has a market cap of $3.40 billion, a P/E ratio of 16.31 and a beta of 1.11.

Apple Hospitality REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.84%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 111.63%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the purchase, the chairman now directly owns 631,990 shares of the company’s stock, valued at approximately $9,340,812.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.80% of the company’s stock.

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.