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

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) dividend on an annualized basis 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%annually 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. Research analysts expect Apple Hospitality REIT to earn $1.61 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 59.6%.

Apple Hospitality REIT Trading Down 0.3%

Shares of APLE opened at $16.84 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average is $16.11 and its two-hundred day moving average is $13.73. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.13. The firm has a market capitalization of $3.97 billion, a P/E ratio of 23.06, a PEG ratio of 3.31 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $327.81 million. On average, research analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Activity

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $13.96 per share, for a total transaction of $69,800.00. Following the completion of the transaction, the chairman directly owned 747,191 shares of the company’s stock, valued at $10,430,786.36. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors and hedge funds have recently bought and sold shares of APLE. State Street Corp grew its holdings in Apple Hospitality REIT by 0.5% during the 4th quarter. State Street Corp now owns 12,962,856 shares of the real estate investment trust’s stock valued at $154,627,000 after buying an additional 68,794 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Apple Hospitality REIT by 1.8% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 7,107,802 shares of the real estate investment trust’s stock worth $84,227,000 after acquiring an additional 127,327 shares during the last quarter. UBS Group AG raised its holdings in shares of Apple Hospitality REIT by 60.8% in the fourth quarter. UBS Group AG now owns 4,721,481 shares of the real estate investment trust’s stock worth $55,950,000 after acquiring an additional 1,786,018 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Apple Hospitality REIT by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,714,872 shares of the real estate investment trust’s stock valued at $55,871,000 after acquiring an additional 125,759 shares in the last quarter. Finally, Centerbridge Partners L.P. lifted its position in shares of Apple Hospitality REIT by 88.2% in the fourth quarter. Centerbridge Partners L.P. now owns 4,229,785 shares of the real estate investment trust’s stock valued at $50,123,000 after acquiring an additional 1,982,000 shares in the last quarter. Hedge funds and other institutional investors own 89.66% of the company’s stock.

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.