Apple Hospitality REIT (NYSE:APLE) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12), Zacks reports. The firm had revenue of $329.51 million for the quarter, compared to the consensus estimate of $324.68 million. Apple Hospitality REIT had a net margin of 13.21% and a return on equity of 5.54%. During the same period in the previous year, the business earned $0.34 earnings per share.

Apple Hospitality REIT Trading Down 1.3 %

Shares of NYSE APLE traded down $0.19 during trading hours on Wednesday, hitting $14.67. The company’s stock had a trading volume of 676,500 shares, compared to its average volume of 1,878,461. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 19.06 and a beta of 1.10. Apple Hospitality REIT has a 12 month low of $14.22 and a 12 month high of $17.90. The business has a 50-day simple moving average of $15.90 and a 200-day simple moving average of $16.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36.

Apple Hospitality REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.54%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 123.08%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.40.

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.