Apple Hospitality REIT (NYSE:APLE – Get Free Report) released its quarterly 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 net margin of 14.58% and a return on equity of 6.11%. The business had revenue of $390.08 million during the quarter, compared to analysts’ expectations of $388.82 million. During the same quarter last year, the company earned $0.49 EPS.
Apple Hospitality REIT Price Performance
Apple Hospitality REIT stock traded down $0.03 during midday trading on Wednesday, reaching $14.00. 688,202 shares of the company were exchanged, compared to its average volume of 2,103,458. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 16.31 and a beta of 1.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50-day simple moving average is $14.52 and its 200-day simple moving average is $15.33. Apple Hospitality REIT has a 1 year low of $13.72 and a 1 year high of $17.90.
Apple Hospitality REIT Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 6.86%. The ex-dividend date is Wednesday, July 31st. Apple Hospitality REIT’s payout ratio is 111.63%.
Analyst Ratings Changes
View Our Latest Report on Apple Hospitality REIT
Insiders Place Their Bets
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 acquired at an average price of $14.78 per share, with a total value of $73,900.00. Following the completion of the purchase, 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 SEC, which can be accessed through this link. 6.80% of the stock is owned by corporate insiders.
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.
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