Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on August 17th

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Monday, July 20th. Investors of record on Friday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 17th. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date is Friday, July 31st.

Apple Hospitality REIT has raised its dividend payment 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 analysts expect Apple Hospitality REIT to earn $1.60 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 60.0%.

Apple Hospitality REIT Price Performance

Shares of APLE opened at $17.07 on Wednesday. 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 has a 52-week low of $10.85 and a 52-week high of $17.09. The business’s 50 day moving average price is $15.83 and its two-hundred day moving average price is $13.56. The firm has a market cap of $4.03 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 8.18 and a beta of 0.87.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $337.74 million during the quarter, compared to analysts’ expectations of $327.81 million. On average, equities analysts anticipate that Apple Hospitality REIT will post 1.59 EPS for the current year.

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.