Apple Hospitality REIT (NYSE:APLE) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Posted by Kyle Jackson on May 9th, 2024

Apple Hospitality REIT (NYSE:APLE – Get Free Report) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12), Zacks reports. Apple Hospitality REIT had a net margin of 13.21% and a return on equity of 5.54%. The company had revenue of $329.51 million for the quarter, compared to analyst estimates of $324.68 million. During the same period in the prior year, the company posted $0.34 EPS.

Apple Hospitality REIT Trading Up 0.3 %

NYSE APLE traded up $0.04 during trading hours on Thursday, reaching $14.75. The company’s stock had a trading volume of 364,991 shares, compared to its average volume of 1,874,224. Apple Hospitality REIT has a 52 week low of $14.22 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $3.57 billion, a P/E ratio of 17.09 and a beta of 1.10. The firm has a fifty day simple moving average of $15.87 and a 200-day simple moving average of $16.21.

Apple Hospitality REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.08 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.96 dividend on an annualized basis and a yield of 6.51%. Apple Hospitality REIT’s dividend payout ratio is currently 111.63%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.40.

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About Apple Hospitality REIT

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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.