Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on February 17th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, January 20th. Investors of record on Friday, January 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 17th. This represents a c) annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, January 30th.

Apple Hospitality REIT has decreased its dividend by an average of 0.0%annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 124.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Apple Hospitality REIT to earn $1.62 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 59.3%.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $12.02 on Wednesday. The business has a 50-day simple moving average of $12.04 and a two-hundred day simple moving average of $12.08. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $15.86. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 16.47 and a beta of 0.85.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. The firm had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $371.94 million. On average, analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Insider Buying and Selling at Apple Hospitality REIT

In other news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was acquired at an average price of $11.91 per share, for a total transaction of $59,550.00. Following the acquisition, the chairman directly owned 710,344 shares of the company’s stock, valued at approximately $8,460,197.04. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 8,000 shares of company stock valued at $95,180. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of APLE. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Apple Hospitality REIT by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 175,955 shares of the real estate investment trust’s stock valued at $2,085,000 after purchasing an additional 3,878 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Apple Hospitality REIT in the 4th quarter valued at about $61,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Apple Hospitality REIT by 16.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,316 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 1,160 shares during the last quarter. CWM LLC increased its position in Apple Hospitality REIT by 21.1% during the fourth quarter. CWM LLC now owns 35,564 shares of the real estate investment trust’s stock worth $421,000 after buying an additional 6,201 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Apple Hospitality REIT by 227.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,132 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 3,564 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company’s stock.

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.