Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend is Monday, April 29th.
Apple Hospitality REIT has raised its dividend payment by an average of 47.4% annually over the last three years. Apple Hospitality REIT has a payout ratio of 109.1% 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 $1.62 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 59.3%.
Apple Hospitality REIT Stock Performance
NYSE:APLE opened at $15.00 on Friday. Apple Hospitality REIT has a 1 year low of $14.22 and a 1 year high of $17.90. The firm has a 50 day moving average of $16.07 and a 200-day moving average of $16.27. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3.64 billion, a P/E ratio of 19.23 and a beta of 1.08.
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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.
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