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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend is Monday, April 29th.

Apple Hospitality REIT has raised its dividend payment by an average of 47.4% per year over the last three years.

Apple Hospitality REIT Stock Performance

Shares of NYSE APLE opened at $15.15 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 19.42 and a beta of 1.08. The business’s 50-day simple moving average is $16.14 and its 200-day simple moving average is $16.25. Apple Hospitality REIT has a 52 week low of $14.22 and a 52 week high of $17.90.

Institutional Trading of Apple Hospitality REIT

Several hedge funds have recently added to or reduced their stakes in APLE. Acadian Asset Management LLC bought a new stake in shares of Apple Hospitality REIT in the 1st quarter worth approximately $25,000. Advisory Services Network LLC lifted its position in shares of Apple Hospitality REIT by 255.5% in the 1st quarter. Advisory Services Network LLC now owns 2,087 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 1,500 shares during the period. KBC Group NV bought a new stake in shares of Apple Hospitality REIT in the 4th quarter worth approximately $49,000. First Manhattan Co. bought a new stake in shares of Apple Hospitality REIT in the 1st quarter worth approximately $99,000. Finally, Captrust Financial Advisors bought a new stake in shares of Apple Hospitality REIT in the 2nd quarter worth approximately $84,000. Institutional investors own 89.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APLE. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Bank of America downgraded Apple Hospitality REIT from a “buy” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $18.00 in a research note on Monday, January 8th. Finally, Wells Fargo & Company increased their target price on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and an average target price of $18.40.

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.