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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a monthly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend is Friday, February 28th.

Apple Hospitality REIT has increased its dividend payment by an average of 188.5% annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 110.3% 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 $1.62 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 59.3%.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE traded down $0.49 on Friday, hitting $14.79. The company's stock had a trading volume of 2,737,175 shares, compared to its average volume of 1,771,237. The company has a 50-day simple moving average of $15.29 and a 200 day simple moving average of $15.11. Apple Hospitality REIT has a 1 year low of $13.60 and a 1 year high of $16.99. The company has a market capitalization of $3.55 billion, a PE ratio of 17.39 and a beta of 1.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Tuesday. Oppenheimer reissued an "outperform" rating and set a $18.00 price objective (up from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. BMO Capital Markets assumed coverage on Apple Hospitality REIT in a report on Monday, December 9th. They set an "outperform" rating and a $18.00 price objective on the stock. StockNews.com raised Apple Hospitality REIT from a "sell" rating to a "hold" rating in a report on Friday, November 22nd. Finally, Bank of America raised Apple Hospitality REIT from a "neutral" rating to a "buy" rating and raised their price objective for the company from $16.00 to $17.00 in a report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Apple Hospitality REIT currently has an average rating of "Moderate Buy" and a consensus target price of $16.80.

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.