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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Monday, April 20th. Investors of record on Thursday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 15th. This represents a c) annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Thursday, April 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% meaning 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 $1.53 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 62.7%.

Apple Hospitality REIT Price Performance

APLE stock opened at $13.12 on Tuesday. The business has a 50 day moving average price of $12.11 and a 200 day moving average price of $11.95. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 17.73 and a beta of 0.82. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $13.27. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.16). The business had revenue of $326.44 million for the quarter, compared to analysts’ expectations of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. Equities research analysts anticipate that Apple Hospitality REIT will post 1.49 earnings per share for the current fiscal year.

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.