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

Apple Hospitality REIT (NYSE:APLE) posted its earnings results on Monday. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13), Yahoo Finance reports. The firm had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a return on equity of 6.11% and a net margin of 14.58%. During the same period in the previous year, the company posted $0.49 EPS.

Apple Hospitality REIT Stock Up 0.5 %

Shares of Apple Hospitality REIT stock opened at $14.03 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. Apple Hospitality REIT has a 52-week low of $13.72 and a 52-week high of $17.90. The company has a market capitalization of $3.40 billion, a P/E ratio of 16.31 and a beta of 1.11. The company has a 50 day moving average of $14.52 and a 200 day moving average of $15.33.

Apple Hospitality REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be paid 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 dividend yield of 6.84%. Apple Hospitality REIT’s payout ratio is 111.63%.

Insider Buying and Selling at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average price of $14.78 per share, with a total value of $73,900.00. Following the completion of the acquisition, the chairman now directly owns 631,990 shares of the company’s stock, valued at approximately $9,340,812.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

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