Apple Hospitality REIT, Inc. Announces Jul 25 Dividend of $0.08 (NYSE:APLE)

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a jul 25 dividend on Friday, July 18th, RTT News reports. Stockholders of record on Thursday, July 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, August 15th. This represents a dividend yield of 7.7%. The ex-dividend date of this dividend is Thursday, July 31st.

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. 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 Down 1.4%

Shares of Apple Hospitality REIT stock opened at $12.40 on Tuesday. The business has a 50-day moving average of $11.92 and a 200-day moving average of $12.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $2.95 billion, a PE ratio of 15.70 and a beta of 1.04. Apple Hospitality REIT has a 1-year low of $10.44 and a 1-year high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Apple Hospitality REIT had a net margin of 13.38% and a return on equity of 5.84%. The business had revenue of $327.70 million for the quarter, compared to analysts’ expectations of $332.86 million. As a group, equities analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Insider Transactions at Apple Hospitality REIT

In other Apple Hospitality REIT news, Chairman Glade M. Knight bought 10,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $11.43 per share, with a total value of $114,300.00. Following the completion of the acquisition, the chairman directly owned 700,344 shares of the company’s stock, valued at approximately $8,004,931.92. The trade was a 1.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 12,000 shares of company stock valued at $137,120 over the last quarter. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of large investors have recently bought and sold shares of the business. NewEdge Advisors LLC raised its holdings in shares of Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Apple Hospitality REIT by 10,235.7% during the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 21,495 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Apple Hospitality REIT by 10.0% during the first quarter. Empowered Funds LLC now owns 24,588 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 2,238 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Apple Hospitality REIT by 114.3% during the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock valued at $1,732,000 after buying an additional 72,553 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Apple Hospitality REIT by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after buying an additional 6,788 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $14.00 to $12.00 in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.75.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.