Apple Hospitality REIT: Q3 Earnings Snapshot

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

The Richmond, Virginia-based real estate investment trust said it had funds from operations of $118 million, or 50 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 $60.5 million, or 26 cents per share.

The hotel-owning real estate investment trust posted revenue of $398.3 million in the period.

The company's shares have risen 53% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.15, a rise of 60% 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