Apple Hospitality REIT, Inc. (APLE) To Go Ex-Dividend on June 28th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, June 18th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, July 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Friday, June 28th.

Apple Hospitality REIT has a dividend payout ratio of 109.1% 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 $1.40 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 68.6%.

Apple Hospitality REIT Stock Performance

Shares of APLE traded down $0.09 during trading hours on Wednesday, reaching $14.27. 195,120 shares of the company traded hands, compared to its average volume of 2,051,576. The stock has a market capitalization of $3.46 billion, a P/E ratio of 16.71 and a beta of 1.10. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $14.67 and a 200-day moving average price of $15.79. Apple Hospitality REIT has a 12-month low of $13.96 and a 12-month high of $17.90.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). Apple Hospitality REIT had a net margin of 14.58% and a return on equity of 6.11%. The business had revenue of $329.51 million during the quarter, compared to analysts’ expectations of $324.68 million. During the same period last year, the company earned $0.34 earnings per share. Equities analysts anticipate that Apple Hospitality REIT will post 1.4 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Glade M. Knight bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $14.78 per share, for a total transaction of $73,900.00. Following the completion of the purchase, the chairman now owns 631,990 shares of the company’s stock, valued at $9,340,812.20. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Wall Street Analysts Forecast Growth

APLE has been the topic of several recent analyst reports. Wedbush initiated coverage on shares of Apple Hospitality REIT in a report on Monday, June 3rd. They set a “neutral” rating and a $15.00 price objective on the stock. StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.83.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.