Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on December 16th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Investors of record on Friday, November 29th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date is Friday, November 29th.

Apple Hospitality REIT has a payout ratio of 112.9% indicating that 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 $1.65 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 Stock Performance

Shares of APLE stock opened at $15.36 on Thursday. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 18.07 and a beta of 1.11. The stock has a fifty day moving average of $15.09 and a 200 day moving average of $14.67. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to analysts’ expectations of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same quarter last year, the company posted $0.45 EPS. As a group, research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on APLE shares. 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 for the company in a report on Friday, September 13th. Oppenheimer restated an “outperform” rating and issued a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.50.

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.