Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on July 15th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, June 18th, Zacks reports. Investors of record on Friday, June 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, July 15th. This represents a $0.96 annualized dividend and a yield of 6.63%. The ex-dividend date is Friday, June 28th.

Apple Hospitality REIT has a 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 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 Trading Down 0.9 %

Apple Hospitality REIT stock opened at $14.49 on Thursday. Apple Hospitality REIT has a 1 year low of $13.96 and a 1 year high of $17.90. The firm’s 50 day moving average price is $14.76 and its 200-day moving average price is $15.87. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market cap of $3.51 billion, a P/E ratio of 16.85 and a beta of 1.10.

Apple Hospitality REIT (NYSE:APLE) last posted its earnings results on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The firm had revenue of $329.51 million for the quarter, compared to the consensus estimate of $324.68 million. Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, equities analysts predict that Apple Hospitality REIT will post 1.4 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Glade M. Knight bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $14.78 per share, with a total value of $73,900.00. Following the completion of the acquisition, the chairman now directly owns 631,990 shares in the company, valued at $9,340,812.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APLE shares. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Wedbush assumed coverage on Apple Hospitality REIT in a research note on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.