Apple Hospitality REIT (NYSE:APLE) Announces Quarterly Earnings Results

Posted by Don Miller on May 8th, 2024

Apple Hospitality REIT (NYSE:APLE – Get Free Report) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12), Zacks reports. Apple Hospitality REIT had a return on equity of 5.54% and a net margin of 13.21%. The firm had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. During the same period last year, the company earned $0.34 earnings per share.

Apple Hospitality REIT Stock Down 1.3 %

APLE traded down $0.19 during trading on Wednesday, hitting $14.67. The stock had a trading volume of 725,850 shares, compared to its average volume of 1,879,171. The stock has a 50 day simple moving average of $15.90 and a two-hundred day simple moving average of $16.22. The company has a market capitalization of $3.56 billion, a PE ratio of 19.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. Apple Hospitality REIT has a twelve month low of $14.22 and a twelve month high of $17.90.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, April 29th. This represents a $0.96 annualized dividend and a dividend yield of 6.54%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 123.08%.

Analyst Ratings Changes

Separately, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.40.

Read Our Latest Stock Report on APLE

About Apple Hospitality REIT

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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.