Apple Hospitality REIT (NYSE:APLE) Issues Earnings Results, Misses Estimates By $0.22 EPS

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 analysts’ consensus estimates 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 previous year, the company posted $0.45 EPS.

Apple Hospitality REIT Stock Up 0.3 %

Shares of Apple Hospitality REIT stock opened at $14.73 on Tuesday. The company’s 50 day moving average price is $14.75 and its 200-day moving average price is $14.62. Apple Hospitality REIT has a 52-week low of $13.60 and a 52-week high of $17.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 16.74 and a beta of 1.11.

Apple Hospitality REIT Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Oppenheimer restated an “outperform” rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.25.

Insider Activity at Apple Hospitality REIT

In other news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is currently owned by company insiders.

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.