Apple Hospitality REIT: Q1 Earnings Snapshot
Apple Hospitality REIT Inc. (APLE) on Tuesday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations. The real estate investment trust, based in Richmond, Virginia, said it had funds from operations of $79 million, or 34 cents per share, in the period
By AP News
Published - May 02, 2023, 04:39 PM ET
Last Updated - May 06, 2024, 12:07 PM EDT
RICHMOND, Va. (AP) — RICHMOND, Va. (AP) — Apple Hospitality REIT Inc. (APLE) on Tuesday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The real estate investment trust, based in Richmond, Virginia, said it had funds from operations of $79 million, or 34 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 34 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.
