Apple Hospitality REIT (NYSE:APLE) Announces Earnings Results

Posted by KOP Source Staff on May 9th, 2024

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

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $14.73 on Thursday. The business’s 50 day moving average is $15.87 and its two-hundred day moving average is $16.21. Apple Hospitality REIT has a 52-week low of $14.22 and a 52-week high of $17.90. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 17.09 and a beta of 1.10. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.45.

Apple Hospitality REIT Dividend Announcement

The firm 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date is Monday, April 29th. Apple Hospitality REIT’s payout ratio is 111.63%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $18.40.

Check Out Our Latest Stock Report on APLE

About Apple Hospitality REIT

(Get Free Report)

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.