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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, December 18th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Wednesday, December 31st.

Apple Hospitality REIT has decreased its dividend by an average of 0.0%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. Research analysts expect Apple Hospitality REIT to earn $1.62 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 59.3%.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded down $0.09 during mid-day trading on Thursday, reaching $12.24. 1,165,808 shares of the company’s stock were exchanged, compared to its average volume of 2,844,468. Apple Hospitality REIT has a one year low of $10.44 and a one year high of $16.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.06 and a current ratio of 0.06. The business’s fifty day simple moving average is $11.67 and its two-hundred day simple moving average is $11.99. The firm has a market capitalization of $2.89 billion, a PE ratio of 16.76 and a beta of 0.83.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.37% and a return on equity of 5.46%. The firm had revenue of $373.88 million for the quarter, compared to analyst estimates of $371.94 million. Analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Glade M. Knight acquired 5,000 shares of the stock in a transaction dated Thursday, December 11th. The stock was bought at an average price of $11.91 per share, with a total value of $59,550.00. Following the completion of the purchase, the chairman directly owned 710,344 shares of the company’s stock, valued at $8,460,197.04. This represents a 0.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 8,000 shares of company stock valued at $95,180 over the last three months. Corporate insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Apple Hospitality REIT

A number of institutional investors have recently added to or reduced their stakes in APLE. Cubist Systematic Strategies LLC bought a new position in Apple Hospitality REIT during the 1st quarter worth $6,254,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Apple Hospitality REIT by 285.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,350,787 shares of the real estate investment trust’s stock valued at $15,764,000 after buying an additional 1,000,214 shares during the period. Caxton Associates LLP bought a new position in shares of Apple Hospitality REIT during the second quarter worth about $1,794,000. Strs Ohio bought a new position in shares of Apple Hospitality REIT during the first quarter worth about $4,395,000. Finally, Graham Capital Management L.P. acquired a new position in shares of Apple Hospitality REIT in the first quarter worth approximately $1,507,000. 89.66% of the stock is owned by institutional investors.

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.