Apple Hospitality REIT, Inc. (APLE) To Go Ex-Dividend on May 29th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, May 19th. Stockholders of record on Friday, May 29th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Friday, May 29th.

Apple Hospitality REIT has increased its dividend by an average of 0.3%annually over the last three years. Apple Hospitality REIT has a dividend payout ratio of 124.7% meaning 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 $1.54 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 62.3%.

Apple Hospitality REIT Trading Up 3.9%

Shares of APLE opened at $14.53 on Thursday. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $14.54. The stock has a fifty day moving average of $12.66 and a two-hundred day moving average of $12.24. The company has a market capitalization of $3.43 billion, a PE ratio of 19.90 and a beta of 0.88. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. As a group, analysts forecast that Apple Hospitality REIT will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on APLE shares. LADENBURG THALM/SH SH started coverage on shares of Apple Hospitality REIT in a report on Thursday, March 26th. They issued a “neutral” rating and a $13.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Apple Hospitality REIT in a report on Wednesday, April 22nd. Cantor Fitzgerald boosted their price objective on shares of Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Barclays reduced their price target on shares of Apple Hospitality REIT from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company reduced their price target on shares of Apple Hospitality REIT from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 24th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.93.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.