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

Apple Hospitality REIT (NYSE:APLE) posted its earnings results on Monday. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01, FiscalAI reports. Apple Hospitality REIT had a return on equity of 5.41% and a net margin of 12.08%.The company had revenue of $337.74 million for the quarter, compared to the consensus estimate of $327.81 million.

Apple Hospitality REIT Price Performance

NYSE APLE traded up $0.24 on Wednesday, hitting $13.85. 461,070 shares of the company’s stock were exchanged, compared to its average volume of 3,006,193. The stock has a 50-day moving average of $12.29 and a 200-day moving average of $12.05. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $13.91. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 8.07 and a beta of 0.88.

Apple Hospitality REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 15th. Shareholders of record on Thursday, April 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, April 30th. This represents a c) annualized dividend and a yield of 6.9%. Apple Hospitality REIT’s dividend payout ratio is presently 129.73%.

Analysts Set New Price Targets

Several equities analysts have recently commented on APLE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $14.00 target price on shares of Apple Hospitality REIT in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Wednesday, April 22nd. Barclays cut their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, April 7th. LADENBURG THALM/SH SH initiated coverage on Apple Hospitality REIT in a research note on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price target for the company. Finally, Wells Fargo & Company cut their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 24th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.64.

Institutional Investors Weigh In On Apple Hospitality REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Apple Hospitality REIT by 0.5% during the fourth quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock worth $154,627,000 after purchasing an additional 68,794 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Apple Hospitality REIT by 1.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock worth $84,227,000 after purchasing an additional 127,327 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Apple Hospitality REIT by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock worth $55,871,000 after purchasing an additional 125,759 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Apple Hospitality REIT by 7.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,306,184 shares of the real estate investment trust’s stock worth $39,707,000 after purchasing an additional 215,355 shares during the last quarter. Finally, UBS Group AG lifted its stake in Apple Hospitality REIT by 94.3% during the third quarter. UBS Group AG now owns 2,935,463 shares of the real estate investment trust’s stock worth $35,255,000 after purchasing an additional 1,424,287 shares during the last quarter. 89.66% of the stock is currently owned by institutional investors.

About Apple Hospitality REIT

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.