Apple Hospitality REIT, Inc. (APLE) To Go Ex-Dividend on July 31st

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Thursday, July 18th, Zacks reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Thursday, August 15th. This represents a $0.96 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Wednesday, July 31st.

Apple Hospitality REIT has a dividend 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 analysts expect Apple Hospitality REIT to earn $1.40 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 68.6%.

Apple Hospitality REIT Stock Up 0.4 %

Shares of NYSE APLE opened at $14.93 on Friday. Apple Hospitality REIT has a 12-month low of $13.95 and a 12-month high of $17.90. The company has a market capitalization of $3.62 billion, a PE ratio of 17.35 and a beta of 1.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s 50-day moving average is $14.49 and its two-hundred day moving average is $15.50.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The business had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. During the same period last year, the company earned $0.34 EPS. Equities analysts anticipate that Apple Hospitality REIT will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

APLE has been the topic of several recent analyst reports. Wedbush initiated coverage on shares of Apple Hospitality REIT in a research note on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $17.40.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was purchased at an average price of $14.78 per share, with a total value of $73,900.00. Following the completion of the transaction, the chairman now owns 631,990 shares of the company’s stock, valued at approximately $9,340,812.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.80% of the company’s stock.

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.