Apple Hospitality REIT (NYSE:APLE) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Apple Hospitality REIT (NYSE:APLE) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.21, Zacks reports. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%.

Apple Hospitality REIT Trading Down 1.1 %

Shares of NYSE APLE opened at $14.61 on Tuesday. 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 business’s 50 day moving average price is $15.26 and its 200-day moving average price is $15.13. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $16.99. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 17.18 and a beta of 1.13.

Apple Hospitality REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 6.57%. Apple Hospitality REIT’s payout ratio is 112.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APLE shares. Wells Fargo & Company lowered their price objective 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. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.00 to $17.00 in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

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.