Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on September 15th

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Wednesday, August 19th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Monday, August 31st.

Apple Hospitality REIT has increased its dividend payment by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a 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. Research analysts expect Apple Hospitality REIT to earn $1.62 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 59.3%.

Apple Hospitality REIT Stock Performance

NYSE APLE opened at $16.47 on Friday. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $17.28. The company has a fifty day moving average of $16.48 and a 200-day moving average of $14.21. The company has a market capitalization of $3.89 billion, a P/E ratio of 22.26, a P/E/G ratio of 3.13 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.73 and a current ratio of 0.73.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The business had revenue of $402.55 million for the quarter, compared to the consensus estimate of $391.88 million. As a group, equities research analysts predict that Apple Hospitality REIT will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APLE. Barclays reaffirmed an “equal weight” rating and issued a $17.00 price objective (up from $16.00) on shares of Apple Hospitality REIT in a research note on Tuesday, July 21st. Wells Fargo & Company lifted their target price on shares of Apple Hospitality REIT from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research upgraded shares of Apple Hospitality REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Compass Point upgraded Apple Hospitality REIT from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.50 to $18.50 in a report on Friday, August 7th. Finally, Cantor Fitzgerald upped their price target on Apple Hospitality REIT from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.50.

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.