Apple Hospitality REIT (NYSE:APLE) Posts Earnings Results

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22), Zacks reports. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period in the prior year, the business earned $0.45 EPS.

Apple Hospitality REIT Stock Performance

Shares of APLE stock opened at $14.73 on Tuesday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 16.74 and a beta of 1.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90. The company’s 50-day moving average is $14.75 and its 200 day moving average is $14.62.

Apple Hospitality REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend is Thursday, October 31st. Apple Hospitality REIT’s payout ratio is 109.09%.

Insiders Place Their Bets

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the acquisition, the chairman now directly owns 636,990 shares in the company, valued at $8,943,339.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

APLE has been the topic of a number of research reports. StockNews.com cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a research note on Friday, October 4th. One equities 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.25.

About Apple Hospitality REIT

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.