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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be given a dividend of 0.08 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Wednesday, September 30th.

Apple Hospitality REIT has increased its dividend payment by an average of 0.3%annually over the last three years. Apple Hospitality REIT has a 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. Analysts expect Apple Hospitality REIT to earn $1.57 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 61.1%.

Apple Hospitality REIT Stock Down 0.2%

Shares of Apple Hospitality REIT stock opened at $15.56 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $16.20 and its two-hundred day simple moving average is $14.73. The company has a market cap of $3.67 billion, a P/E ratio of 21.03, a PEG ratio of 3.05 and a beta of 0.88. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $17.28.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. The firm had revenue of $402.55 million during the quarter, compared to analysts’ expectations of $391.88 million. Research analysts anticipate that Apple Hospitality REIT will post 1.6 EPS for the current year.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of upscale, select-service and extended-stay hotels across the United States. The company generates revenue primarily through hotel operations, including room accommodations, food and beverage services, and other guest services.

Its properties operate under well-known hotel brands, including Marriott, Hilton and Hyatt. The portfolio includes brands such as Courtyard by Marriott, Fairfield by Marriott, Residence Inn, SpringHill Suites, Hampton by Hilton, Hilton Garden Inn, Homewood Suites, Hyatt Place and Hyatt House, among others.