Apple Hospitality REIT: 2Q Earnings Snapshot

AP

Print Article

RICHMOND, Va. (AP) _ Apple Hospitality REIT Inc. (APLE) on Monday reported a key measure of profitability in its second quarter. The results matched Wall Street expectations.

The Richmond, Virginia-based real estate investment trust said it had funds from operations of $117.3 million, or 51 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 51 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $67.6 million, or 29 cents per share.

The hotel-owning real estate investment trust posted revenue of $344.7 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $347.2 million.

The company's shares have dropped almost 9 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.87, a decrease of roughly 2 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on APLE at https://www.zacks.com/ap/APLE

Print Article

Read More Business

Asian stocks slide as investors fret over China's economy

AP

August 15, 2018 at 9:48 pm | TOKYO (AP) Asian shares fell Thursday after deepening worries about global economic growth, particularly in China, set off a rout on Wall Street. KEEPING SCORE: Japan's Nikkei 225 index fell 0....

Comments

Read More

Rare nickel sells for $4.5 million at auction

AP

August 15, 2018 at 8:32 pm | PHILADELPHIA (AP) A rare nickel has sold for $4.5 million at a Philadelphia auction. Stack's Bowers Galleries sold the Eliasberg 1913 Liberty Head nickel Wednesday night during the American Num...

Comments

Read More

AP Top Business News at 11:16 p.m. EDT

AP

August 15, 2018 at 8:20 pm | Pot taxes pick up in California but still far off target...

Comments

Read More

Texas shrimp farmers try new technology to prevent disease

AP

August 15, 2018 at 7:42 pm | LACOSTE, Texas (AP) It was a Texas-sized shrimp dream, to breed tasty crustaceans far from shore but close to transportation hubs that would speed fresh seafood to swanky restaurants as far away as...

Comments

Read More

Contact Us

(509) 765-4561
PO Box 910
Moses Lake, WA 98837

©2018 Columbia Basin Herald Terms of Use Privacy Policy
X
X