Apple Hospitality REIT, Inc. (NYSE:APLE) Announces Aug 25 Dividend of $0.08

Key Points

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Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a aug 25 dividend on Tuesday, August 19th, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, September 15th. This represents a dividend yield of 780.0%. The ex-dividend date of this dividend is Friday, August 29th.

Apple Hospitality REIT has a dividend payout ratio of 124.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Apple Hospitality REIT to earn $1.62 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 59.3%.

Apple Hospitality REIT Trading Up 4.3%

Shares of APLE traded up $0.5350 on Friday, reaching $12.8550. 3,357,801 shares of the company's stock were exchanged, compared to its average volume of 3,030,424. The stock has a market capitalization of $3.05 billion, a P/E ratio of 17.14 and a beta of 1.08. The business has a 50 day moving average price of $12.07 and a two-hundred day moving average price of $12.53. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.47. The firm had revenue of $384.37 million during the quarter, compared to analysts' expectations of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. Research analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight purchased 5,000 shares of Apple Hospitality REIT stock in a transaction dated Tuesday, August 19th. The stock was bought at an average price of $12.29 per share, for a total transaction of $61,450.00. Following the completion of the acquisition, the chairman directly owned 705,344 shares of the company's stock, valued at $8,668,677.76. This represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Apple Hospitality REIT by 2.7% in the first quarter. Principal Financial Group Inc. now owns 1,111,519 shares of the real estate investment trust's stock valued at $14,350,000 after buying an additional 28,778 shares during the period. Deutsche Bank AG boosted its holdings in shares of Apple Hospitality REIT by 20.9% in the fourth quarter. Deutsche Bank AG now owns 392,123 shares of the real estate investment trust's stock valued at $6,019,000 after buying an additional 67,896 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Apple Hospitality REIT by 24.8% in the first quarter. Asset Management One Co. Ltd. now owns 481,341 shares of the real estate investment trust's stock valued at $6,214,000 after buying an additional 95,606 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Apple Hospitality REIT by 12.0% in the first quarter. Sound Income Strategies LLC now owns 1,016,816 shares of the real estate investment trust's stock valued at $13,127,000 after buying an additional 108,833 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Apple Hospitality REIT by 29.9% in the first quarter. KBC Group NV now owns 12,025 shares of the real estate investment trust's stock valued at $155,000 after buying an additional 2,768 shares during the period. Institutional investors and hedge funds own 89.66% of the company's stock.

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.