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

by · The Markets Daily

Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) declared a monthly dividend on Thursday, September 19th, Zacks reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.96 annualized dividend and a yield of 6.25%. The ex-dividend date is Monday, September 30th.

Apple Hospitality REIT has a dividend payout ratio of 111.6% 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 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 Up 1.1 %

Shares of Apple Hospitality REIT stock opened at $15.35 on Friday. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market capitalization of $3.72 billion, a P/E ratio of 17.85 and a beta of 1.12. The business has a 50-day moving average of $14.44 and a two-hundred day moving average of $14.90.

Apple Hospitality REIT (NYSE:APLE – Get Free Report) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.13). The company had revenue of $390.08 million for the quarter, compared to analyst estimates of $388.82 million. Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities analysts predict that Apple Hospitality REIT will post 1.61 EPS for the current year.

Wall Street Analyst Weigh In

APLE has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Oppenheimer reduced their price objective on Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, Wedbush assumed coverage on Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Apple Hospitality REIT presently has a consensus rating of “Hold” and an average price target of $16.25.

View Our Latest Report on Apple Hospitality REIT

Insiders Place Their Bets

In related news, Chairman Glade M. Knight acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $14.04 per share, for a total transaction of $70,200.00. Following the acquisition, the chairman now directly owns 636,990 shares of the company’s stock, valued at $8,943,339.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

Apple Hospitality REIT Company Profile

(Get Free Report)

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.

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