Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) announced a monthly dividend on Tuesday, February 17th. Shareholders of record on Friday, February 27th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, March 16th. This represents a c) annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, February 27th.
Apple Hospitality REIT has decreased its dividend payment by an average of 0.0%per year 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. 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 APLE traded up $0.04 on Tuesday, reaching $12.31. 1,815,932 shares of the stock traded hands, compared to its average volume of 2,363,536. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $15.44. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 16.86 and a beta of 0.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.06 and a quick ratio of 0.06. The stock’s 50-day moving average price is $12.13 and its 200-day moving average price is $12.04.
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.
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