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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, May 19th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, May 29th.

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 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. Equities analysts expect Apple Hospitality REIT to earn $1.54 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 62.3%.

Apple Hospitality REIT Price Performance

Shares of APLE stock opened at $14.00 on Wednesday. The firm has a market cap of $3.30 billion, a P/E ratio of 19.17 and a beta of 0.88. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $14.19. The business’s 50 day moving average price is $12.61 and its 200-day moving average price is $12.22. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last issued 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. The firm had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, equities research analysts anticipate that Apple Hospitality REIT will post 1.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on APLE shares. LADENBURG THALM/SH SH started coverage on Apple Hospitality REIT in a research report on Thursday, March 26th. They set a “neutral” rating and a $13.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd. Cantor Fitzgerald lifted their price target on Apple Hospitality REIT from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Wells Fargo & Company dropped their price target on Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Finally, Barclays dropped their price target on Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Hold” and a consensus target price of $12.93.

Apple Hospitality REIT Company Profile

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.