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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Tuesday, May 19th. Investors of record on Friday, May 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, May 29th.

Apple Hospitality REIT has raised its dividend payment by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 124.7% 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 $1.54 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 62.3%.

Apple Hospitality REIT Trading Down 0.7%

Shares of NYSE APLE traded down $0.10 during midday trading on Tuesday, hitting $14.00. 1,836,103 shares of the company traded hands, compared to its average volume of 3,012,295. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $14.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day moving average price of $12.58 and a 200 day moving average price of $12.20. The firm has a market cap of $3.30 billion, a P/E ratio of 19.17 and a beta of 0.88.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, analysts expect that Apple Hospitality REIT will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on APLE shares. Barclays lowered their price objective on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Company decreased their price target on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. LADENBURG THALM/SH SH assumed coverage on shares of Apple Hospitality REIT in a research report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a research report on Wednesday, April 22nd. Finally, Cantor Fitzgerald increased their price target on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus price target of $12.93.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.