Apple Hospitality REIT (NYSE:APLE) Posts Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Apple Hospitality REIT (NYSE:APLE) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22), Zacks reports. The company had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same period in the prior year, the firm posted $0.45 earnings per share.

Apple Hospitality REIT Price Performance

Shares of Apple Hospitality REIT stock opened at $14.76 on Wednesday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 17.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50 day simple moving average is $14.76 and its two-hundred day simple moving average is $14.62. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90.

Apple Hospitality REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 annualized dividend and a yield of 6.50%. Apple Hospitality REIT’s payout ratio is 112.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on APLE shares. 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 research report on Friday, September 13th. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.25.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.80% 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, 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.