Apple Hospitality REIT (NYSE:APLE) Releases Earnings Results, Misses Expectations By $0.16 EPS

Apple Hospitality REIT (NYSE:APLE) released its earnings results on Monday. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.16), FiscalAI reports. The company had revenue of $326.44 million for the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a return on equity of 5.48% and a net margin of 12.42%.

Apple Hospitality REIT Price Performance

NYSE:APLE opened at $12.13 on Wednesday. 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. The firm’s 50-day simple moving average is $12.16 and its 200 day simple moving average is $12.07. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 16.39 and a beta of 0.84.

Apple Hospitality REIT Dividend Announcement

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

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 5,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the transaction, the chairman directly owned 710,344 shares in the company, 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 accessible through this link. 7.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG grew its position 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 buying an additional 1,424,287 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Apple Hospitality REIT during the 4th quarter valued at $13,361,000. Millennium Management LLC grew its holdings in shares of Apple Hospitality REIT by 763.8% during the 3rd quarter. Millennium Management LLC now owns 648,487 shares of the real estate investment trust’s stock worth $7,788,000 after purchasing an additional 573,410 shares in the last quarter. Bank of America Corp DE increased its position in shares of Apple Hospitality REIT by 42.6% in the second quarter. Bank of America Corp DE now owns 1,904,629 shares of the real estate investment trust’s stock worth $22,227,000 after purchasing an additional 569,109 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Apple Hospitality REIT by 31.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,772,663 shares of the real estate investment trust’s stock valued at $21,290,000 after purchasing an additional 421,876 shares in the last quarter. 89.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APLE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research note on Friday, December 26th. Barclays started coverage on Apple Hospitality REIT in a report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 price target for the company. Finally, Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target on the stock. in a research report on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.92.

Apple Hospitality REIT Company Profile

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.