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

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

Apple Hospitality REIT Trading Down 0.2 %

Apple Hospitality REIT stock traded down $0.03 during mid-day trading on Tuesday, hitting $14.70. 108,484 shares of the company’s stock were exchanged, compared to its average volume of 2,044,801. The firm has a market capitalization of $3.56 billion, a P/E ratio of 17.01 and a beta of 1.11. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46. The company’s 50 day simple moving average is $14.75 and its 200-day simple moving average is $14.62.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.08 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.53%. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Analysts Set New Price Targets

A number of brokerages have commented on APLE. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a research report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of “Hold” and a consensus target price of $16.25.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $14.04 per share, with a total value of $70,200.00. Following the purchase, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is currently owned by company insiders.

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.