Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on May 15th

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Monday, April 29th.

Apple Hospitality REIT has increased its dividend by an average of 47.4% per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 109.1% 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 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 Performance

NYSE:APLE opened at $14.99 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.45. Apple Hospitality REIT has a fifty-two week low of $14.22 and a fifty-two week high of $17.90. The stock has a market cap of $3.63 billion, a PE ratio of 19.22 and a beta of 1.08. The firm’s fifty day simple moving average is $16.09 and its 200-day simple moving average is $16.26.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on APLE shares. StockNews.com cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Bank of America lowered shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $18.00 in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.40.

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.