Apple Hospitality REIT (NYSE:APLE) Issues Earnings Results

Apple Hospitality REIT (NYSE:APLE) released its earnings results on Monday. The real estate investment trust reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21, Zacks reports. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%.

Apple Hospitality REIT Trading Down 1.1 %

Shares of NYSE:APLE traded down $0.16 on Monday, hitting $14.61. 3,821,951 shares of the company’s stock were exchanged, compared to its average volume of 1,828,329. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $16.99. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 17.18 and a beta of 1.13. The business’s 50 day simple moving average is $15.29 and its two-hundred day simple moving average is $15.12. 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 firm also recently announced a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 28th. This represents a $0.96 annualized dividend and a dividend yield of 6.57%. Apple Hospitality REIT’s dividend payout ratio (DPR) is 112.94%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on APLE. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They issued an “outperform” rating and a $18.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock 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.