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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, December 16th. This represents a $0.96 annualized dividend and a dividend yield of 5.93%. The ex-dividend date is Friday, November 29th.

Apple Hospitality REIT has a 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. 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 Trading Up 0.2 %

NYSE APLE opened at $16.20 on Thursday. The business has a 50 day simple moving average of $15.24 and a 200 day simple moving average of $14.71. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90. The stock has a market capitalization of $3.89 billion, a P/E ratio of 19.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.22). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The business had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same period in the prior year, the business earned $0.45 EPS. Research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on APLE. StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Wells Fargo & Company decreased their target price on 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target 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.