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Apple Hospitality REIT reports 4Q results

RICHMOND, Va. (AP) _ Apple Hospitality REIT Inc. (APLE) on Monday reported a key measure of profitability in its fourth quarter.

The real estate investment trust, based in Richmond, Virginia, said it had funds from operations of $83.2 million, or 37 cents per share, in the period.

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 $41.6 million, or 19 cents per share.

The hotel-owning real estate investment trust posted revenue of $282.4 million in the period.

For the year, the company reported funds from operations of $336.6 million, or $1.76 per share. Revenue was reported as $1.04 billion.

The company's shares have increased 1 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.22, a rise of 1 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


Keywords: Apple Hospitality REIT, Earnings Report