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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Thursday, December 19th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.96 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend is Tuesday, December 31st.

Apple Hospitality REIT has a payout ratio of 112.9% 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 $1.65 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 Price Performance

NYSE:APLE opened at $15.61 on Friday. Apple Hospitality REIT has a 12-month low of $13.60 and a 12-month high of $17.30. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 18.36 and a beta of 1.13. The stock’s 50 day moving average price is $15.58 and its two-hundred day moving average price is $14.88. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. During the same period last year, the company posted $0.45 EPS. On average, analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APLE. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Wells Fargo & Company decreased 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 report on Friday, September 13th. Finally, BMO Capital Markets started coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.80.

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.