Apple Hospitality REIT Inc (NYSE:APLE) declared a monthly dividend on Thursday, June 20th, NASDAQ reports. Shareholders of record on Tuesday, July 2nd will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, July 15th. This represents a $1.20 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date is Monday, July 1st.
Apple Hospitality REIT has raised its dividend by an average of 19.7% annually 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 $1.67 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 71.9%.
Shares of NYSE:APLE traded down $0.18 during trading on Friday, hitting $15.42. 1,324,314 shares of the company’s stock traded hands, compared to its average volume of 1,249,895. Apple Hospitality REIT has a 52 week low of $13.81 and a 52 week high of $18.24. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.45 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.82. The firm has a 50-day simple moving average of $15.75.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Friday. Capital One Financial began coverage on Summit Hotel Properties in a report on Tuesday, June 25th. They set an “equal weight” rating and a $13.00 target price on the stock. Finally, ValuEngine downgraded Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.25.
In other news, Director Redd Hugh bought 2,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $15.88 per share, with a total value of $31,760.00. Following the acquisition, the director now directly owns 92,154 shares in the company, valued at $1,463,405.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Glade M. Knight bought 5,000 shares of the stock in a transaction on Friday, May 17th. The stock was purchased at an average cost of $16.42 per share, with a total value of $82,100.00. Following the acquisition, the chairman now owns 10,128,812 shares in the company, valued at $166,315,093.04. The disclosure for this purchase can be found here. 6.50% of the stock is owned by corporate insiders.
Apple Hospitality REIT Company Profile
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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