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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Friday, October 18th, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.08 per share by the real estate investment trust on Friday, November 15th. This represents a $0.96 annualized dividend and a dividend yield of 6.32%. The ex-dividend date of this dividend is Thursday, October 31st.

Apple Hospitality REIT has a payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Apple Hospitality REIT to earn $1.65 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 58.2%.

Apple Hospitality REIT Trading Up 0.5 %

APLE stock opened at $15.18 on Wednesday. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90. The business’s 50-day moving average is $14.71 and its 200 day moving average is $14.63. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 17.65 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million for the quarter, compared to analysts’ expectations of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, sell-side analysts anticipate that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on APLE shares. Oppenheimer restated an “outperform” rating and set a $17.00 target price on shares of Apple Hospitality REIT in a report on Friday, October 4th. StockNews.com downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Wells Fargo & Company lowered their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.25.

Insider Buying and Selling

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by company insiders.

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.