Apple Hospitality REIT Inc to Issue Monthly Dividend of $0.10 (NYSE:APLE)

Apple Hospitality REIT Inc (NYSE:APLE) declared a monthly dividend on Wednesday, May 22nd, Wall Street Journal reports. Investors of record on Monday, June 3rd will be given a dividend of 0.10 per share by the real estate investment trust on Monday, June 17th. This represents a $1.20 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Friday, May 31st.

Apple Hospitality REIT has increased its dividend payment by an average of 19.7% per year over the last three years. Apple Hospitality REIT has a payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Apple Hospitality REIT to earn $1.66 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 72.3%.

Apple Hospitality REIT stock traded down $0.11 during mid-day trading on Friday, hitting $15.76. The stock had a trading volume of 1,213,293 shares, compared to its average volume of 1,130,802. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 1.90 and a beta of 0.84. Apple Hospitality REIT has a 12 month low of $13.81 and a 12 month high of $18.75. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.47.

Apple Hospitality REIT (NYSE:APLE) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.20). The firm had revenue of $303.79 million during the quarter, compared to the consensus estimate of $303.62 million. Apple Hospitality REIT had a net margin of 15.84% and a return on equity of 5.82%. Apple Hospitality REIT’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, sell-side analysts expect that Apple Hospitality REIT will post 1.65 EPS for the current year.

In other Apple Hospitality REIT news, Director Redd Hugh purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were bought at an average price of $15.88 per share, with a total value of $31,760.00. Following the completion of the transaction, the director now directly owns 92,154 shares in the company, valued at approximately $1,463,405.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Glade M. Knight purchased 5,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average cost of $16.42 per share, for a total transaction of $82,100.00. Following the transaction, the chairman now owns 10,128,812 shares of the company’s stock, valued at $166,315,093.04. The disclosure for this purchase can be found here. 6.50% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on the company. ValuEngine upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, B. Riley restated a “buy” rating on shares of Apple Hospitality REIT in a report on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

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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 30,800 guest rooms located in 88 markets throughout 34 states.

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Dividend History for Apple Hospitality REIT (NYSE:APLE)

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