Apple Hospitality REIT (NYSE:APLE) Releases Earnings Results, Misses Estimates By $0.16 EPS

Apple Hospitality REIT (NYSE:APLEGet Rating) posted its earnings results on Thursday. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.16), Fidelity Earnings reports. Apple Hospitality REIT had a net margin of 11.40% and a return on equity of 4.07%. During the same period in the prior year, the company earned $0.30 EPS.

Apple Hospitality REIT Stock Down 1.5 %

APLE stock traded down $0.25 during trading on Friday, hitting $16.36. 1,237,536 shares of the company’s stock traded hands, compared to its average volume of 1,199,984. The firm has a market capitalization of $3.74 billion, a P/E ratio of 28.70 and a beta of 1.11. Apple Hospitality REIT has a 1 year low of $14.11 and a 1 year high of $18.69. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $15.71 and a two-hundred day simple moving average of $16.65.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 15th. Stockholders of record on Tuesday, August 2nd will be given a $0.05 dividend. The ex-dividend date is Monday, August 1st. This represents a $0.60 annualized dividend and a dividend yield of 3.67%. Apple Hospitality REIT’s payout ratio is presently 105.27%.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Monday, May 16th. The stock was purchased at an average cost of $16.22 per share, with a total value of $81,100.00. Following the transaction, the chairman now owns 488,093 shares in the company, valued at approximately $7,916,868.46. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 7,342 shares of company stock valued at $117,451. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Apple Hospitality REIT

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new position in shares of Apple Hospitality REIT in the 1st quarter valued at approximately $25,000. First Manhattan Co. purchased a new position in shares of Apple Hospitality REIT in the first quarter worth $99,000. US Bancorp DE lifted its stake in shares of Apple Hospitality REIT by 67.6% during the first quarter. US Bancorp DE now owns 7,542 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 3,043 shares during the period. Walleye Trading LLC purchased a new stake in shares of Apple Hospitality REIT during the first quarter valued at $198,000. Finally, Federated Hermes Inc. acquired a new position in shares of Apple Hospitality REIT in the 1st quarter valued at $202,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Analyst Upgrades and Downgrades

APLE has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Apple Hospitality REIT from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Oppenheimer initiated coverage on Apple Hospitality REIT in a research report on Thursday, April 21st. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.33.

About Apple Hospitality REIT

(Get Rating)

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 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.

Further Reading

Earnings History for Apple Hospitality REIT (NYSE:APLE)

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