Apple Hospitality REIT (NYSE:APLE) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Apple Hospitality REIT (NYSE:APLE) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21, Zacks reports. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $14.61 on Tuesday. The stock has a 50 day moving average of $15.26 and a 200 day moving average of $15.13. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $16.99. The firm has a market cap of $3.50 billion, a PE ratio of 17.18 and a beta of 1.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Friday, February 28th. Apple Hospitality REIT’s payout ratio is presently 112.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on APLE. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and upped their price target for the stock from $16.00 to $17.00 in a research report on Monday, January 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.80.

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.