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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared 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 6.34%. The ex-dividend date of this dividend is Monday, September 30th.

Apple Hospitality REIT has a dividend 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. Research 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 $15.14 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.60 and a beta of 1.12. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90. The company’s 50-day moving average is $14.45 and its 200 day moving average is $14.83.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.13). The firm had revenue of $390.08 million for the quarter, compared to the consensus estimate of $388.82 million. Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. During the same period last year, the business earned $0.49 EPS. Sell-side analysts expect that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on APLE. Wells Fargo & Company dropped 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. Oppenheimer cut their price target on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, Wedbush assumed coverage on shares of Apple Hospitality REIT in a research report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Apple Hospitality REIT currently has an average rating of “Hold” and an average target price of $16.25.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $14.04 per share, with a total value of $70,200.00. Following the completion of the purchase, the chairman now directly owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.80% of the stock is owned by company insiders.

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.