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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, March 19th. Stockholders of record on Tuesday, March 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Tuesday, March 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 payout ratio of 124.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 traded up $0.07 during trading on Thursday, hitting $11.86. 2,270,414 shares of the stock were exchanged, compared to its average volume of 2,415,315. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $12.17 and a 200-day moving average price of $12.02. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 16.02 and a beta of 0.81. Apple Hospitality REIT has a 1-year low of $10.44 and a 1-year high of $13.69.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.16). Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. The firm had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million. As a group, equities analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on APLE shares. Barclays initiated coverage on Apple Hospitality REIT in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $14.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Friday, December 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price target on shares of Apple Hospitality REIT in a research note on Tuesday, March 3rd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.92.

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.