Apple Hospitality REIT (NYSE:APLE) Issues Quarterly Earnings Results

Apple Hospitality REIT (NYSE:APLE - Get Free Report) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.01, Zacks reports. The business had revenue of $327.70 million during the quarter, compared to analysts' expectations of $332.86 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%.

Apple Hospitality REIT Trading Down 1.2 %

Shares of APLE traded down $0.14 during mid-day trading on Tuesday, reaching $11.36. The stock had a trading volume of 255,442 shares, compared to its average volume of 2,242,328. Apple Hospitality REIT has a 52-week low of $10.44 and a 52-week high of $16.50. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 13.37 and a beta of 1.07. The business's fifty day moving average is $12.66 and its 200 day moving average is $14.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, April 30th. This represents a $0.96 annualized dividend and a dividend yield of 8.45%. Apple Hospitality REIT's dividend payout ratio is presently 121.52%.

Wall Street Analysts Forecast Growth

APLE has been the subject of several recent analyst reports. Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Bank of America upgraded Apple Hospitality REIT from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.