Apple Hospitality REIT, Inc. (NYSE:APLE) Plans $0.08 Monthly Dividend

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Friday, January 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 18th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.11%. The ex-dividend date of this dividend is Friday, January 31st.

Apple Hospitality REIT has increased its dividend by an average of 188.5% per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 110.3% 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 $1.63 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 58.9%.

Apple Hospitality REIT Price Performance

APLE stock opened at $15.70 on Wednesday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The stock has a market cap of $3.77 billion, a PE ratio of 18.48 and a beta of 1.13. The stock has a 50-day moving average price of $15.55 and a two-hundred day moving average price of $15.05.

Apple Hospitality REIT (NYSE:APLE) last released 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). Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. The firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. Equities analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

APLE has been the subject of several research analyst reports. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Monday. BMO Capital Markets assumed coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They set an “outperform” rating and a $18.00 target price on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.60.

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.