Apple Hospitality REIT, Inc. (NYSE:APLE) Shareholders Set to Receive $0.08 Monthly Dividend

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Tuesday, October 20th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.08 per share by the real estate investment trust on Monday, November 16th. This represents a $0.96 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, October 30th.

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% meaning 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 $1.57 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 61.1%.

Apple Hospitality REIT Stock Performance

APLE traded up $0.30 during trading on Wednesday, reaching $18.12. 1,015,823 shares of the company were exchanged, compared to its average volume of 2,877,538. The firm has a 50 day moving average of $16.13 and a 200 day moving average of $15.45. The stock has a market cap of $4.28 billion, a P/E ratio of 24.48, a PEG ratio of 3.37 and a beta of 0.92. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $18.27.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. On average, sell-side analysts forecast that Apple Hospitality REIT will post 1.60 EPS for the current fiscal year.

Hedge Funds Weigh In On Apple Hospitality REIT

Several hedge funds have recently bought and sold shares of APLE. Palouse Capital Management Inc. raised its holdings in Apple Hospitality REIT by 21.1% during the second quarter. Palouse Capital Management Inc. now owns 4,304 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 750 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Apple Hospitality REIT by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,111 shares of the real estate investment trust’s stock worth $2,764,000 after buying an additional 1,068 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Apple Hospitality REIT by 15.5% during the 2nd quarter. GAMMA Investing LLC now owns 11,552 shares of the real estate investment trust’s stock worth $194,000 after acquiring an additional 1,548 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Apple Hospitality REIT by 3.0% during the 1st quarter. Cetera Investment Advisers now owns 54,066 shares of the real estate investment trust’s stock worth $622,000 after acquiring an additional 1,568 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Apple Hospitality REIT by 69.7% during the 2nd quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 1,569 shares in the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.