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.
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.
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.
Featured Article: Risk Tolerance and Your Investment Decisions
Receive News & Ratings for Apple Hospitality REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple Hospitality REIT and related companies with MarketBeat.com's FREE daily email newsletter.