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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Wednesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date of this dividend is Wednesday, April 30th.

Apple Hospitality REIT has raised its dividend payment by an average of 188.5% annually over the last three years. Apple Hospitality REIT has a payout ratio of 115.7% 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 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 Apple Hospitality REIT stock opened at $11.90 on Monday. Apple Hospitality REIT has a one year low of $10.44 and a one year high of $16.50. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 14.00 and a beta of 1.00. The business has a 50-day simple moving average of $13.03 and a 200 day simple moving average of $14.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. On average, research analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on APLE. Bank of America upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and raised their price objective for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Wells Fargo & Company dropped their price target on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Apple Hospitality REIT Company Profile

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.