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

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, FiscalAI reports. The company had revenue of $402.55 million for the quarter, compared to analyst estimates of $391.88 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%.

Apple Hospitality REIT Stock Down 0.1%

Shares of NYSE:APLE traded down $0.01 during midday trading on Wednesday, reaching $16.54. The company had a trading volume of 3,933,298 shares, compared to its average volume of 3,007,239. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $16.32 and its 200-day moving average price is $13.88. The stock has a market capitalization of $3.90 billion, a P/E ratio of 22.65, a PEG ratio of 3.24 and a beta of 0.88. Apple Hospitality REIT has a one year low of $10.85 and a one year high of $17.13.

Apple Hospitality REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. Apple Hospitality REIT’s dividend payout ratio (DPR) is presently 131.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Bank of America increased their target price on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Weiss Ratings upgraded Apple Hospitality REIT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Cantor Fitzgerald increased their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Zacks Research upgraded shares of Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Finally, Barclays reiterated an “equal weight” rating and set a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of Apple Hospitality REIT stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the purchase, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. The trade was a 0.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Large investors have recently modified their holdings of the stock. Corient Private Wealth LLC lifted its holdings in Apple Hospitality REIT by 36.4% during the 4th quarter. Corient Private Wealth LLC now owns 18,495 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 4,937 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at approximately $202,000. Invesco Ltd. increased its holdings in shares of Apple Hospitality REIT by 3.7% in the 4th quarter. Invesco Ltd. now owns 1,697,962 shares of the real estate investment trust’s stock valued at $20,121,000 after acquiring an additional 60,126 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Apple Hospitality REIT by 1.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock valued at $84,227,000 after purchasing an additional 127,327 shares during the period. Finally, XTX Topco Ltd boosted its position in Apple Hospitality REIT by 116.5% during the 4th quarter. XTX Topco Ltd now owns 77,390 shares of the real estate investment trust’s stock valued at $917,000 after purchasing an additional 41,646 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.