Apple Hospitality REIT (NYSE:APLE) Announces Earnings Results

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16), FiscalAI reports. The firm had revenue of $326.44 million for the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%.

Apple Hospitality REIT Trading Down 1.1%

Shares of APLE stock opened at $12.22 on Tuesday. The firm has a fifty day moving average of $12.16 and a 200-day moving average of $12.07. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 16.74 and a beta of 0.84. Apple Hospitality REIT has a 52-week low of $10.44 and a 52-week high of $14.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.06 and a current ratio of 0.06.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 7.9%. Apple Hospitality REIT’s payout ratio is currently 131.51%.

Analyst Upgrades and Downgrades

APLE has been the topic of a number of research analyst reports. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a report on Tuesday, November 4th. Barclays began coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus price target of $12.92.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average price of $11.91 per share, with a total value of $59,550.00. Following the completion of the transaction, the chairman directly owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its position in shares of Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 1,814 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 2,640 shares during the last quarter. Danske Bank A S acquired a new position in Apple Hospitality REIT in the third quarter valued at about $36,000. Smartleaf Asset Management LLC grew its stake in Apple Hospitality REIT by 97.5% during the second quarter. Smartleaf Asset Management LLC now owns 3,792 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,872 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Apple Hospitality REIT by 22.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,440 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 1,202 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

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.