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

Apple Hospitality REIT (NYSE:APLE) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.22), Fidelity Earnings reports. The business had revenue of $289.97 million for the quarter, compared to analysts’ expectations of $288.45 million. Apple Hospitality REIT had a net margin of 13.57% and a return on equity of 5.16%.

NYSE:APLE opened at $13.40 on Thursday. Apple Hospitality REIT has a 12 month low of $13.40 and a 12 month high of $16.88. The firm has a fifty day simple moving average of $15.32 and a 200-day simple moving average of $15.91. The company has a current ratio of 0.24, a quick ratio of 0.38 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.07 billion, a P/E ratio of 17.40 and a beta of 0.79.

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $1.20 annualized dividend and a dividend yield of 8.96%. Apple Hospitality REIT’s payout ratio is currently 73.62%.

APLE has been the subject of several recent analyst reports. Janney Montgomery Scott initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, December 16th. They issued a “buy” rating and a $18.00 target price for the company. B. Riley lowered their target price on shares of Apple Hospitality REIT from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday. ValuEngine upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Zacks Investment Research upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.40.

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.

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Earnings History for Apple Hospitality REIT (NYSE:APLE)

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