Apple Hospitality REIT, Inc. (APLE) to Issue Monthly Dividend of $0.08 on February 18th

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, January 21st,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 18th. This represents a $0.96 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend is Friday, January 31st.

Apple Hospitality REIT has raised its dividend payment by an average of 188.5% per year over the last three years. Apple Hospitality REIT has a payout ratio of 110.3% indicating that 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 $1.63 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 58.9%.

Apple Hospitality REIT Stock Performance

Shares of Apple Hospitality REIT stock opened at $15.19 on Thursday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market cap of $3.64 billion, a PE ratio of 17.86 and a beta of 1.13. The company has a 50 day moving average of $15.56 and a 200-day moving average of $15.01. Apple Hospitality REIT has a 1-year low of $13.60 and a 1-year high of $16.99.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The business had revenue of $378.84 million during the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same period last year, the business earned $0.45 earnings per share. As a group, equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on APLE shares. Oppenheimer reissued an “outperform” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. BMO Capital Markets initiated coverage on Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.50.

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, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 223 hotels with more than 29,400 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.