Apple Hospitality REIT (NYSE:APLE) Releases Earnings Results, Misses Expectations By $0.12 EPS

Posted by Patrick Bannon on May 8th, 2024

Apple Hospitality REIT (NYSE:APLE – Get Free Report) issued its earnings results on Monday. The real estate investment trust reported $0.22 earnings per share (EPS) 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 analyst estimates of $324.68 million. Apple Hospitality REIT had a net margin of 13.21% and a return on equity of 5.54%. During the same quarter last year, the company posted $0.34 EPS.

Apple Hospitality REIT Stock Performance

NYSE APLE traded down $0.10 on Wednesday, hitting $14.76. The stock had a trading volume of 444,679 shares, compared to its average volume of 1,875,611. Apple Hospitality REIT has a one year low of $14.22 and a one year high of $17.90. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 19.06 and a beta of 1.10. The company’s 50-day moving average is $15.90 and its two-hundred day moving average is $16.22.

Apple Hospitality REIT Announces Dividend

The company 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 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Monday, April 29th. Apple Hospitality REIT’s dividend payout ratio (DPR) is 123.08%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday. Four 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 has an average rating of “Hold” and an average price target of $18.40.

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Apple Hospitality REIT Company Profile

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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.