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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a monthly dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.96 dividend on an annualized basis and a yield of 7.24%. The ex-dividend date is Monday, March 31st.

Apple Hospitality REIT has raised its dividend by an average of 188.5% annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 112.9% indicating that 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 $1.62 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 Trading Down 0.9 %

Shares of Apple Hospitality REIT stock traded down $0.13 on Tuesday, hitting $13.26. The stock had a trading volume of 710,021 shares, compared to its average volume of 1,944,984. The stock's 50-day simple moving average is $14.77 and its two-hundred day simple moving average is $15.10. Apple Hospitality REIT has a one year low of $13.01 and a one year high of $16.60. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 15.62 and a beta of 1.12.

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Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.01. The firm had revenue of $333.04 million for the quarter, compared to analysts' expectations of $330.11 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. As a group, sell-side analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on APLE shares. Wells Fargo & Company dropped their price objective on Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. BMO Capital Markets started coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an "outperform" rating and a $18.00 price target for the company. Finally, Bank of America raised 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, January 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.