Apple Hospitality REIT (NYSE:APLE) Issues Earnings Results, Misses Expectations By $0.16 EPS

Apple Hospitality REIT (NYSE:APLE – Get Rating) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.16), Fidelity Earnings reports. Apple Hospitality REIT had a net margin of 11.40% and a return on equity of 4.07%. During the same period in the prior year, the company posted $0.30 earnings per share.

Apple Hospitality REIT Trading Down 1.5 %

Shares of APLE stock opened at $16.36 on Friday. The company has a market cap of $3.74 billion, a P/E ratio of 28.70 and a beta of 1.11. Apple Hospitality REIT has a fifty-two week low of $14.11 and a fifty-two week high of $18.69. The stock has a 50 day simple moving average of $15.71 and a two-hundred day simple moving average of $16.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 0.91.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 15th. Shareholders of record on Tuesday, August 2nd will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 1st. This represents a $0.60 dividend on an annualized basis and a yield of 3.67%. Apple Hospitality REIT’s payout ratio is currently 105.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on APLE shares. Oppenheimer started coverage on Apple Hospitality REIT in a research note on Thursday, April 21st. They issued an “outperform” rating and a $23.00 target price for the company. Barclays decreased their target price on Apple Hospitality REIT from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Finally, B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, June 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Insider Activity

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was acquired at an average price of $16.22 per share, for a total transaction of $81,100.00. Following the completion of the acquisition, the chairman now owns 488,093 shares of the company’s stock, valued at approximately $7,916,868.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 7,342 shares of company stock worth $117,451 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in Apple Hospitality REIT by 11.8% during the 1st quarter. Raymond James & Associates now owns 99,450 shares of the real estate investment trust’s stock valued at $1,787,000 after acquiring an additional 10,534 shares during the period. US Bancorp DE boosted its holdings in Apple Hospitality REIT by 67.6% during the 1st quarter. US Bancorp DE now owns 7,542 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 3,043 shares during the period. HighTower Advisors LLC purchased a new stake in Apple Hospitality REIT during the 1st quarter valued at about $366,000. Acadian Asset Management LLC purchased a new stake in Apple Hospitality REIT during the 1st quarter valued at about $25,000. Finally, MetLife Investment Management LLC boosted its holdings in Apple Hospitality REIT by 55.0% during the 1st quarter. MetLife Investment Management LLC now owns 113,977 shares of the real estate investment trust’s stock valued at $2,048,000 after acquiring an additional 40,438 shares during the period. 78.99% of the stock is currently owned by institutional investors.

About Apple Hospitality REIT

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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 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.