Apple Hospitality REIT (NYSE:APLE) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings data on Monday. The real estate investment trust reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01, Zacks reports. The company had revenue of $333.04 million during the quarter, compared to analysts’ expectations of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%.

Apple Hospitality REIT Price Performance

APLE stock opened at $14.41 on Wednesday. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market capitalization of $3.46 billion, a PE ratio of 16.95 and a beta of 1.13. The business has a 50 day simple moving average of $15.23 and a 200-day simple moving average of $15.13.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date of this dividend is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Wall Street Analyst Weigh In

APLE has been the topic of a number of analyst reports. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their target price for the company from $16.00 to $17.00 in a research report on Monday, January 27th. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Wells Fargo & Company lowered their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.