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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Thursday, June 18th. Stockholders 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) dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, June 30th.

Apple Hospitality REIT has raised its dividend payment by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a 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 $1.58 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 Trading Up 0.5%

APLE stock opened at $17.02 on Friday. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $17.06. The business’s 50-day moving average is $14.73 and its 200 day moving average is $13.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 8.32 and a beta of 0.89.

Apple Hospitality REIT (NYSE:APLE) last announced its earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, sell-side analysts anticipate that Apple Hospitality REIT will post 1.58 EPS for the current fiscal year.

Apple Hospitality REIT Company Profile

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.