Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on December 16th

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, November 29th.

Apple Hospitality REIT has a payout ratio of 111.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Apple Hospitality REIT to earn $1.65 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 58.2%.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $16.17 on Wednesday. The stock has a market cap of $3.88 billion, a P/E ratio of 19.02 and a beta of 1.11. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The company’s 50-day simple moving average is $15.20 and its 200 day simple moving average is $14.70.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results 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). The company had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APLE shares. Oppenheimer restated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.50.

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.