Apple Hospitality REIT (NYSE:APLE) Issues Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Apple Hospitality REIT (NYSE:APLE) issued its earnings results on Monday. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same quarter last year, the company posted $0.49 EPS.

Apple Hospitality REIT Price Performance

Shares of NYSE APLE opened at $14.03 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $3.40 billion, a PE ratio of 16.31 and a beta of 1.11. Apple Hospitality REIT has a 1-year low of $13.72 and a 1-year high of $17.90. The business’s fifty day moving average price is $14.52 and its two-hundred day moving average price is $15.33.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.96 dividend on an annualized basis and a yield of 6.84%. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Insider Activity

In other news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average price of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the purchase, the chairman now owns 631,990 shares of the company’s stock, valued at $9,340,812.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wedbush started coverage on Apple Hospitality REIT in a research report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 target price for the company. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Apple Hospitality REIT has a consensus rating of “Hold” and a consensus target price of $17.40.

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.