Apple Hospitality REIT (NYSE:APLE) Issues Earnings Results

Apple Hospitality REIT (NYSE:APLE - Get Free Report) announced its earnings results on Monday. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.22), Zacks reports. The company had revenue of $378.84 million for the quarter, compared to analysts' expectations of $377.56 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same quarter in the prior year, the firm posted $0.45 earnings per share.

Apple Hospitality REIT Stock Up 0.2 %

APLE traded up $0.03 during trading on Tuesday, hitting $14.76. The stock had a trading volume of 1,881,980 shares, compared to its average volume of 2,053,089. The company has a market capitalization of $3.58 billion, a PE ratio of 17.01 and a beta of 1.11. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a 50 day simple moving average of $14.75 and a two-hundred day simple moving average of $14.62.

Apple Hospitality REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.50%. Apple Hospitality REIT's dividend payout ratio is presently 112.94%.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $70,200.00. Following the completion of the purchase, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on APLE. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, September 13th. StockNews.com lowered shares of Apple Hospitality REIT from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $17.00 target price on shares of Apple Hospitality REIT in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.25.

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.