Apple Hospitality REIT, Inc. (APLE) To Go Ex-Dividend on September 30th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Thursday, September 19th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.96 annualized dividend and a yield of 6.34%. The ex-dividend date is Monday, September 30th.

Apple Hospitality REIT has a payout ratio of 111.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Apple Hospitality REIT to earn $1.65 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 58.2%.

Apple Hospitality REIT Stock Up 0.3 %

Shares of APLE stock opened at $15.14 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $17.90. The firm’s fifty day moving average price is $14.45 and its two-hundred day moving average price is $14.85. The firm has a market capitalization of $3.67 billion, a P/E ratio of 17.60 and a beta of 1.12.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.13). Apple Hospitality REIT had a net margin of 14.91% and a return on equity of 6.30%. The business had revenue of $390.08 million during the quarter, compared to analyst estimates of $388.82 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts predict that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Glade M. Knight bought 5,000 shares of Apple Hospitality REIT stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $14.04 per share, with a total value of $70,200.00. Following the acquisition, the chairman now owns 636,990 shares of the company’s stock, valued at approximately $8,943,339.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on APLE. Wedbush began coverage on shares of Apple Hospitality REIT in a research report on Monday, June 3rd. They issued a “neutral” rating and a $15.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Oppenheimer decreased their price objective on shares of Apple Hospitality REIT from $19.00 to $17.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Apple Hospitality REIT presently has a consensus rating of “Hold” and a consensus target price of $16.25.

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.