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

Apple Hospitality REIT (NYSE:APLE) posted its quarterly earnings results on Monday. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01, Zacks reports. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%.

Apple Hospitality REIT Price Performance

Shares of APLE stock traded up $0.20 during trading hours on Monday, hitting $11.39. The company’s stock had a trading volume of 4,349,257 shares, compared to its average volume of 2,859,721. The business has a fifty day moving average of $12.15 and a 200-day moving average of $12.01. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 15.19 and a beta of 1.02. Apple Hospitality REIT has a twelve month low of $10.44 and a twelve month high of $16.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 17th. Stockholders of record on Friday, October 31st will be given a $0.08 dividend. The ex-dividend date is Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 8.4%. Apple Hospitality REIT’s dividend payout ratio is currently 128.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on APLE shares. Wells Fargo & Company raised shares of Apple Hospitality REIT to a “hold” rating in a report on Friday, October 3rd. Robert W. Baird cut their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Apple Hospitality REIT in a report on Thursday. Finally, Cantor Fitzgerald initiated coverage on shares of Apple Hospitality REIT in a report on Wednesday, October 1st. They issued an “overweight” rating and a $14.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the transaction, the chairman directly owned 705,344 shares of the company’s stock, valued at $8,668,677.76. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 7.10% of the stock is owned by corporate insiders.

Institutional Trading of Apple Hospitality REIT

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC boosted its position in Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Apple Hospitality REIT by 1,375.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares during the last quarter. Smartleaf Asset Management LLC boosted its position 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 acquiring an additional 1,872 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 acquiring an additional 1,202 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Apple Hospitality REIT during the second quarter worth approximately $121,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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.