Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on May 15th

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Monday, April 20th. Shareholders of record on Thursday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Thursday, April 30th.

Apple Hospitality REIT has increased its dividend by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 124.7% 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 $1.53 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 62.7%.

Apple Hospitality REIT Stock Performance

NYSE:APLE opened at $12.99 on Wednesday. The company has a fifty day simple moving average of $12.12 and a two-hundred day simple moving average of $11.95. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 17.55 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.52. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $13.27.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). The business had revenue of $326.44 million during the quarter, compared to analyst estimates of $322.60 million. Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%. As a group, equities analysts anticipate that Apple Hospitality REIT will post 1.49 earnings per share for the current fiscal year.

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.