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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Wednesday, August 19th. Stockholders of record on Monday, August 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, August 31st.

Apple Hospitality REIT has raised its dividend payment 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. 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 Performance

Shares of APLE stock opened at $16.54 on Friday. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.14 and a beta of 0.88. The stock has a fifty day moving average of $16.51 and a 200 day moving average of $14.39. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $17.28. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. As a group, research analysts expect that Apple Hospitality REIT will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

APLE has been the topic of several research analyst reports. LADENBURG THALM/SH SH boosted their price target on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. BMO Capital Markets raised their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 12th. Bank of America lifted their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Apple Hospitality REIT in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. upped their price target on Apple Hospitality REIT from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Hold” and an average target price of $16.50.

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.