Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) announced a monthly dividend on Monday, October 19th. Shareholders of record on Friday, October 30th will be given a dividend of $0.08 per share by the real estate investment trust on Monday, November 16th. This represents a $0.96 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, October 30th.
Apple Hospitality REIT has raised 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% 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 $1.61 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 59.6%.
Apple Hospitality REIT Trading Up 2.0%
APLE opened at $18.63 on Wednesday. The business’s 50-day moving average is $16.37 and its two-hundred day moving average is $14.55. Apple Hospitality REIT has a 1 year low of $10.85 and a 1 year high of $18.66.
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $402.55 million for the quarter, compared to analysts’ expectations of $391.88 million. As a group, research analysts anticipate that Apple Hospitality REIT will post 1.63 EPS for the current fiscal year.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.
Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.
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