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$Apple Hospitality REIT Inc (APLE.US)$Revenue shrank sharply...

$Apple Hospitality REIT Inc (APLE.US)$Revenue shrank sharply by 52.5% in 2020, then recovered rapidly in the next two years, reaching 98% in 2019 in 2022, operating profit lost in 2020, 98% in 2019 in 2022, and 84% in 2019 in 2022, mainly hampered by depreciation of capital assets.
In the first two quarters of 2023, revenue increased 12.5%, operating profit increased 16.5%, and net profit increased 17.8%.
Currently, the price-earnings ratio is 25.6, and the price-earnings ratio has dropped to 23.1. If net profit increases by 18% for the whole year, the price-earnings ratio will drop to 21.7. If calculated based on the high net profit of 210 million in 2018, the price-earnings ratio is 17.6. Taken together, the current valuation is not very attractive.
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