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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, March 19th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Tuesday, March 31st.

Apple Hospitality REIT has increased its dividend by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 124.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Up 0.6%

Shares of APLE opened at $11.86 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50-day simple moving average of $12.16 and a 200-day simple moving average of $12.02. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $13.69. The firm has a market capitalization of $2.79 billion, a P/E ratio of 16.02 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE) last released its earnings results on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.16). Apple Hospitality REIT had a return on equity of 5.50% and a net margin of 12.42%.The firm had revenue of $326.44 million for the quarter, compared to analyst estimates of $322.60 million. On average, equities research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

About Apple Hospitality REIT

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.