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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, August 20th. Investors of record on Monday, August 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Monday, August 31st.

Apple Hospitality REIT has raised its dividend payment by an average of 0.3%per year 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. 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 Price Performance

Shares of APLE traded up $0.11 during trading hours on Thursday, reaching $16.47. 1,974,708 shares of the stock traded hands, compared to its average volume of 2,997,667. The company has a market cap of $3.89 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average price is $16.48 and its two-hundred day moving average price is $14.17. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $17.28.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $402.55 million during the quarter, compared to analyst estimates of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. On average, analysts anticipate that Apple Hospitality REIT will post 1.64 earnings per share for the current year.

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.