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

Apple Hospitality REIT (NYSE:APLE - Get Free Report) issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01, Zacks reports. The firm had revenue of $327.70 million during the quarter, compared to the consensus estimate 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 Stock Up 2.3 %

NYSE APLE traded up $0.27 on Thursday, reaching $11.63. The company had a trading volume of 2,133,155 shares, compared to its average volume of 2,262,674. 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 has a 1 year low of $10.44 and a 1 year high of $16.50. The firm has a 50-day moving average of $12.53 and a 200-day moving average of $14.41. The firm has a market capitalization of $2.77 billion, a PE ratio of 13.68 and a beta of 1.07.

Apple Hospitality REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a $0.08 dividend. This represents a $0.96 annualized dividend and a yield of 8.26%. The ex-dividend date is Wednesday, April 30th. Apple Hospitality REIT's dividend payout ratio (DPR) is presently 121.52%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on APLE shares. Bank of America raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $16.00 to $17.00 in a report on Monday, January 27th. Wells Fargo & Company reduced their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Apple Hospitality REIT currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.80.

Insider Activity

In other news, Chairman Glade M. Knight purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the acquisition, the chairman now owns 700,344 shares in the company, valued at approximately $8,004,931.92. This trade represents a 1.45 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 7.10% of the company's stock.

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.