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

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

Apple Hospitality REIT Stock Down 1.1 %

Apple Hospitality REIT stock traded down $0.16 during mid-day trading on Monday, hitting $14.61. 3,821,851 shares of the company’s stock were exchanged, compared to its average volume of 1,828,329. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99. The stock has a 50 day moving average of $15.29 and a two-hundred day moving average of $15.12. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.50 billion, a P/E ratio of 17.18 and a beta of 1.13.

Apple Hospitality REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date is Friday, February 28th. Apple Hospitality REIT’s dividend payout ratio is presently 112.94%.

Wall Street Analyst Weigh In

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