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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, June 18th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, July 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date is Friday, June 28th.

Apple Hospitality REIT has a payout ratio of 109.1% 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 $1.40 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 68.6%.

Apple Hospitality REIT Price Performance

Apple Hospitality REIT stock remained flat at $14.27 during midday trading on Thursday. 45,997 shares of the company’s stock traded hands, compared to its average volume of 2,050,529. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.79 and a current ratio of 0.79. Apple Hospitality REIT has a twelve month low of $13.96 and a twelve month high of $17.90. The company has a market capitalization of $3.46 billion, a P/E ratio of 16.59 and a beta of 1.10. The company has a fifty day simple moving average of $14.65 and a 200-day simple moving average of $15.78.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The firm had revenue of $329.51 million during the quarter, compared to the consensus estimate of $324.68 million. During the same period in the prior year, the business earned $0.34 earnings per share. Sell-side analysts forecast that Apple Hospitality REIT will post 1.4 EPS for the current year.

Insider Transactions at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average price of $14.78 per share, for a total transaction of $73,900.00. Following the purchase, the chairman now directly owns 631,990 shares in the company, valued at approximately $9,340,812.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

APLE has been the topic of several research reports. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. Wedbush initiated coverage on shares of Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Apple Hospitality REIT has an average rating of “Hold” and a consensus price target of $17.83.

Apple Hospitality REIT Company Profile

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.