Apple Hospitality REIT Inc (NYSE:APLE) declared a monthly dividend on Wednesday, November 21st, Wall Street Journal reports. Stockholders of record on Monday, December 3rd will be given a dividend of 0.10 per share by the real estate investment trust on Monday, December 17th. This represents a $1.20 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend is Friday, November 30th.

Apple Hospitality REIT has a dividend payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Apple Hospitality REIT to earn $1.71 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 70.2%.

Shares of Apple Hospitality REIT stock traded down $0.06 during trading on Wednesday, hitting $15.70. 1,462,473 shares of the company were exchanged, compared to its average volume of 1,356,170. Apple Hospitality REIT has a 1-year low of $15.56 and a 1-year high of $20.19. The firm has a market capitalization of $3.58 billion, a P/E ratio of 9.02, a PEG ratio of 1.84 and a beta of 0.69.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.21). Apple Hospitality REIT had a net margin of 13.42% and a return on equity of 4.77%. The business had revenue of $332.20 million during the quarter, compared to analyst estimates of $340.17 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Apple Hospitality REIT’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Apple Hospitality REIT will post 1.7 EPS for the current fiscal year.

In other Apple Hospitality REIT news, insider Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average price of $16.22 per share, for a total transaction of $81,100.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Redd Hugh purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was acquired at an average price of $16.18 per share, for a total transaction of $48,540.00. Following the purchase, the director now owns 86,154 shares in the company, valued at approximately $1,393,971.72. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 25,624 shares of company stock worth $419,183. 6.30% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the company. Zacks Investment Research raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley raised Apple Hospitality REIT from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, August 8th. Finally, ValuEngine downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.25.

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About Apple Hospitality REIT

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, select-service hotels in the United States. Apple Hospitality's portfolio consists of 241 hotels with more than 30,700 guest rooms located in 88 markets throughout 34 states.

See Also: Market Capitalization and Individual Investors

Dividend History for Apple Hospitality REIT (NYSE:APLE)

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