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Apple Hospitality REIT: Q1 Earnings Snapshot

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

The Richmond, Virginia-based real estate investment trust said it had funds from operations of $80.3 million, or 34 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 $27.7 million, or 12 cents per share.

The hotel-owning real estate investment trust posted revenue of $337.7 million in the period.

The company’s shares have climbed 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.16, a climb of 12% in the last 12 months.

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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

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