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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend is Monday, April 29th.

Apple Hospitality REIT has increased its dividend by an average of 47.4% annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 109.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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

APLE opened at $14.99 on Friday. The firm has a market capitalization of $3.63 billion, a P/E ratio of 19.22 and a beta of 1.08. The stock’s 50 day moving average price is $16.09 and its two-hundred day moving average price is $16.26. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.45. Apple Hospitality REIT has a 12-month low of $14.22 and a 12-month high of $17.90.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on APLE. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Bank of America lowered Apple Hospitality REIT from a “buy” rating to a “neutral” rating and decreased their price target for the company from $19.00 to $18.00 in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.40.

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.