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 given 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 6.25%. The ex-dividend date of this dividend is Friday, November 29th.

Apple Hospitality REIT has a payout ratio of 112.9% meaning 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 Down 0.5 %

Shares of Apple Hospitality REIT stock opened at $15.36 on Thursday. The firm has a market capitalization of $3.69 billion, a PE ratio of 18.07 and a beta of 1.11. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The firm’s 50-day moving average price is $15.09 and its 200 day moving average price is $14.67. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same quarter in the previous year, the company posted $0.45 EPS. On average, sell-side analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com cut shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company cut their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT has a consensus rating of “Hold” and an average price target of $16.50.

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.