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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Thursday, September 19th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.96 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Monday, September 30th.

Apple Hospitality REIT has a payout ratio of 111.6% meaning 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 $1.65 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 5.0 %

Shares of APLE stock opened at $15.19 on Friday. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $17.90. The company has a 50 day moving average price of $14.42 and a 200 day moving average price of $14.91. The stock has a market capitalization of $3.68 billion, a P/E ratio of 17.66 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75.

Apple Hospitality REIT (NYSE:APLE) last posted 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 business had revenue of $390.08 million during the quarter, compared to analyst estimates 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 last year, the firm earned $0.49 EPS. Equities research analysts predict that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Glade M. Knight acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the acquisition, the chairman now owns 636,990 shares in the company, valued at $8,943,339.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on APLE shares. Oppenheimer cut their price target on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Wedbush began coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and a consensus price target of $16.25.

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.