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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Friday, October 18th, Zacks reports. Investors of record on Thursday, October 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Friday, November 15th. This represents a $0.96 annualized dividend and a yield of 6.40%. The ex-dividend date is Thursday, October 31st.

Apple Hospitality REIT has a payout ratio of 114.3% meaning 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 $1.65 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 Down 1.5 %

Shares of NYSE APLE opened at $15.00 on Friday. The firm has a market cap of $3.63 billion, a PE ratio of 17.44 and a beta of 1.12. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.90. The company’s fifty day simple moving average is $14.59 and its 200 day simple moving average is $14.70. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.46.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (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 the consensus estimate 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 period in the prior year, the company earned $0.49 earnings per share. As a group, sell-side analysts forecast that Apple Hospitality REIT will post 1.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $14.04 per share, with a total value of $70,200.00. Following the acquisition, the chairman now owns 636,990 shares of the company’s stock, valued at $8,943,339.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on APLE shares. Wells Fargo & Company cut their target price 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. Oppenheimer reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of Apple Hospitality REIT in a research note on Friday, October 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $16.25.

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.