Apple Hospitality REIT, Inc. (NYSE:APLE) to Issue Monthly Dividend of $0.08

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Friday, November 29th.

Apple Hospitality REIT has a payout ratio of 111.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Down 0.9 %

APLE stock opened at $16.17 on Wednesday. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a twelve month low of $13.60 and a twelve month high of $17.90. The company has a market cap of $3.88 billion, a P/E ratio of 19.02 and a beta of 1.11. The business has a fifty day moving average of $15.20 and a 200-day moving average of $14.70.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The firm had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on APLE. Wells Fargo & Company cut their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and issued a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, StockNews.com raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.50.

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.