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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Friday, February 28th.

Apple Hospitality REIT has raised its dividend payment by an average of 188.5% annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 110.3% 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 Price Performance

NYSE APLE traded down $0.03 on Wednesday, reaching $15.35. The company had a trading volume of 1,529,235 shares, compared to its average volume of 1,700,635. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $3.68 billion, a PE ratio of 18.06 and a beta of 1.13. The firm’s 50 day moving average price is $15.37 and its 200 day moving average price is $15.09. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $16.99.

Wall Street Analyst Weigh In

APLE has been the topic of a number of research reports. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Bank of America raised shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $17.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.80.

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.