Apple Hospitality REIT (NYSE:APLE) Announces Earnings Results

Apple Hospitality REIT (NYSE:APLE) released its quarterly earnings results on Monday. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16), FiscalAI reports. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. The business had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million.

Apple Hospitality REIT Trading Down 1.1%

APLE traded down $0.13 during midday trading on Monday, reaching $12.22. 2,882,012 shares of the company’s stock traded hands, compared to its average volume of 2,326,432. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a fifty day moving average of $12.16 and a two-hundred day moving average of $12.06. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 16.74 and a beta of 0.84. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $14.96.

Apple Hospitality REIT Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APLE. Barclays assumed coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They set an “overweight” rating and a $14.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Friday, December 26th. Finally, Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and set a $11.50 price target for the company. in a research note on Tuesday, November 4th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.92.

Insider Activity at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average cost of $11.91 per share, for a total transaction of $59,550.00. Following the purchase, the chairman directly owned 710,344 shares in the company, valued at $8,460,197.04. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at approximately $202,000. Invesco Ltd. boosted its holdings in shares of Apple Hospitality REIT by 3.7% in the fourth quarter. Invesco Ltd. now owns 1,697,962 shares of the real estate investment trust’s stock valued at $20,121,000 after purchasing an additional 60,126 shares during the period. Corient Private Wealth LLC grew its position in shares of Apple Hospitality REIT by 137.2% during the 4th quarter. Corient Private Wealth LLC now owns 32,166 shares of the real estate investment trust’s stock worth $381,000 after buying an additional 18,608 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Apple Hospitality REIT by 1.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock valued at $84,227,000 after purchasing an additional 127,327 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in Apple Hospitality REIT by 116.5% during the fourth quarter. XTX Topco Ltd now owns 77,390 shares of the real estate investment trust’s stock valued at $917,000 after purchasing an additional 41,646 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.