Apple Hospitality REIT, Inc. (NYSE:APLE) Announces $0.08 Monthly Dividend

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Monday, July 20th. Investors of record on Friday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 17th. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, July 31st.

Apple Hospitality REIT has increased its dividend payment by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 124.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Apple Hospitality REIT to earn $1.58 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 60.8%.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $16.91 on Tuesday. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 8.22 and a beta of 0.87. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $17.09. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $15.76 and a 200 day moving average price of $13.53.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Research analysts predict that Apple Hospitality REIT will post 1.58 EPS for the current fiscal year.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.