Apple Hospitality REIT, Inc. to Issue Monthly Dividend of $0.08 (NYSE:APLE)

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Friday, November 29th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, December 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Friday, November 29th.

Apple Hospitality REIT has a payout ratio of 111.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Apple Hospitality REIT to earn $1.65 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 58.2%.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $16.20 on Thursday. Apple Hospitality REIT has a one year low of $13.60 and a one year high of $17.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 19.06 and a beta of 1.11. The firm has a 50 day simple moving average of $15.24 and a 200 day simple moving average of $14.71.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.45 earnings per share. Research analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on APLE. StockNews.com upgraded shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (up previously from $17.00) on shares of Apple Hospitality REIT in a research note on Friday, November 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.50.

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, 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.