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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Friday, January 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 18th. This represents a $0.96 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Friday, January 31st.

Apple Hospitality REIT has increased its dividend by an average of 188.5% annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 110.3% 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 research analysts expect Apple Hospitality REIT to earn $1.63 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 58.9%.

Apple Hospitality REIT Price Performance

Shares of APLE stock traded up $0.23 during mid-day trading on Tuesday, reaching $15.27. The company’s stock had a trading volume of 1,320,612 shares, compared to its average volume of 1,762,631. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99. The company has a market cap of $3.66 billion, a P/E ratio of 17.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The firm’s 50-day moving average is $15.59 and its two-hundred day moving average is $15.00.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. During the same quarter in the prior year, the company posted $0.45 EPS. On average, research analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on APLE shares. BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Finally, StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Apple Hospitality REIT currently has an average rating of “Hold” and a consensus target price of $16.50.

Apple Hospitality REIT Company Profile

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.