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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, June 18th. Investors of record on Tuesday, June 30th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 30th.

Apple Hospitality REIT has raised its dividend by an average of 0.3%annually over the last three years. Apple Hospitality REIT has a payout ratio of 124.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Apple Hospitality REIT to earn $1.58 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 60.8%.

Apple Hospitality REIT Trading Up 2.2%

NYSE:APLE traded up $0.36 during mid-day trading on Thursday, hitting $16.61. 4,425,103 shares of the stock traded hands, compared to its average volume of 2,992,080. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. Apple Hospitality REIT has a 52 week low of $10.85 and a 52 week high of $16.71. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 8.00 and a beta of 0.89. The firm’s 50 day moving average is $14.11 and its two-hundred day moving average is $12.77.

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, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million during the quarter, compared to the consensus estimate of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. On average, equities research analysts predict that Apple Hospitality REIT will post 1.58 earnings per share for the current year.

Insider Activity at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $13.96 per share, with a total value of $69,800.00. Following the completion of the purchase, the chairman owned 747,191 shares of the company’s stock, valued at approximately $10,430,786.36. The trade was a 0.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust’s stock valued at $2,205,000 after purchasing an additional 4,712 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Apple Hospitality REIT by 114.3% during the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust’s stock worth $1,732,000 after buying an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Apple Hospitality REIT by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust’s stock valued at $1,776,000 after buying an additional 6,788 shares during the period. NewEdge Advisors LLC increased its stake in shares of Apple Hospitality REIT by 295.9% during the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 1,814 shares during the period. Finally, Jones Financial Companies Lllp increased its stake in shares of Apple Hospitality REIT by 10,235.7% during the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 21,495 shares during the period. Institutional investors own 89.66% of the company’s stock.

About Apple Hospitality REIT

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.