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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a monthly dividend on Friday, October 18th, Zacks reports. Stockholders of record on Thursday, October 31st will be given a dividend of 0.08 per share by the real estate investment trust on Friday, November 15th. This represents a $0.96 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Thursday, October 31st.

Apple Hospitality REIT has a payout ratio of 114.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 1.5 %

NYSE APLE traded down $0.23 on Friday, hitting $15.00. 1,131,235 shares of the stock were exchanged, compared to its average volume of 2,083,259. Apple Hospitality REIT has a 52-week low of $13.60 and a 52-week high of $17.90. The firm has a market capitalization of $3.64 billion, a P/E ratio of 17.44 and a beta of 1.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a fifty day moving average price of $14.59 and a two-hundred day moving average price of $14.70.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.13). Apple Hospitality REIT had a return on equity of 6.30% and a net margin of 14.91%. The firm had revenue of $390.08 million for the quarter, compared to analysts' expectations of $388.82 million. During the same period in the prior year, the firm posted $0.49 earnings per share. Research analysts forecast that Apple Hospitality REIT will post 1.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on APLE shares. Oppenheimer reiterated an "outperform" rating and issued a $17.00 price target on shares of Apple Hospitality REIT in a report on Friday, October 4th. Wells Fargo & Company cut their price objective on Apple Hospitality REIT from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.25.

Insider Activity at Apple Hospitality REIT

In other news, Chairman Glade M. Knight bought 5,000 shares of the firm's stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $14.04 per share, with a total value of $70,200.00. Following the transaction, the chairman now directly owns 636,990 shares in the company, valued at approximately $8,943,339.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is owned by company insiders.

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.