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

Apple Hospitality REIT (NYSE:APLE) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Price Performance

Shares of NYSE APLE traded down $0.16 during mid-day trading on Monday, reaching $14.61. The company had a trading volume of 3,821,851 shares, compared to its average volume of 1,828,329. The company has a 50-day moving average price of $15.29 and a two-hundred day moving average price of $15.12. The stock has a market cap of $3.50 billion, a PE ratio of 17.18 and a beta of 1.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99.

Apple Hospitality REIT Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on APLE shares. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Wells Fargo & Company decreased 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 report on Tuesday, February 18th. BMO Capital Markets began coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price on the stock. Bank of America raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, Oppenheimer reiterated an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.