Apple Hospitality REIT, Inc. (APLE) to Distribute Monthly Dividend of $0.08 on July 15th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Thursday, June 18th. Investors of record on Tuesday, June 30th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, June 30th.

Apple Hospitality REIT has raised its dividend by an average of 0.3%annually 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. Equities analysts expect Apple Hospitality REIT to earn $1.58 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 60.8%.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $16.61 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $16.71. The firm has a 50-day simple moving average of $14.30 and a 200-day simple moving average of $12.83. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 8.10 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, equities research analysts anticipate that Apple Hospitality REIT will post 1.58 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.