Apple Hospitality REIT Inc (APLE) Plans Monthly Dividend of $0.10
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.
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.
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