Apple Hospitality REIT (NYSE:APLE) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Apple Hospitality REIT (NYSE:APLE) issued its earnings results on Monday. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01, Zacks reports. The company had revenue of $333.04 million for the quarter, compared to the consensus estimate of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%.

Apple Hospitality REIT Trading Down 1.5 %

NYSE APLE opened at $14.41 on Wednesday. The firm’s fifty day moving average is $15.23 and its two-hundred day moving average is $15.13. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $16.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm has a market cap of $3.46 billion, a PE ratio of 16.95 and a beta of 1.13.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.08 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio is currently 112.94%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on APLE shares. BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 price target for the company. Wells Fargo & Company cut their target price on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Oppenheimer reissued an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Finally, Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $17.00 in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Moderate Buy” and an average price target of $16.80.

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.