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

Key Points

• Apple Hospitality REIT declared a monthly dividend of $0.08 per share, payable September 15 to shareholders of record August 31. The dividend implies an annualized payout of $0.96 and a yield of approximately 5.8%.
• The REIT’s current payout ratio is high at 124.7%, meaning earnings do not fully cover the dividend; however, analysts expect next year’s earnings to support a lower projected payout ratio of 59.3%.
• Apple Hospitality reported quarterly EPS of $0.28, exceeding estimates by $0.01, while revenue of $402.55 million also surpassed expectations. Shares traded near $16.47, close to their 12-month high of $17.28.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a monthly dividend on Thursday, August 20th. Stockholders of record on Monday, August 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, August 31st.

Apple Hospitality REIT has raised its dividend payment by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a payout ratio of 124.7% indicating that 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 $1.62 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 Stock Performance

NYSE APLE traded up $0.11 during trading hours on Thursday, hitting $16.47. The company's stock had a trading volume of 1,974,708 shares, compared to its average volume of 2,997,667. The company's 50 day simple moving average is $16.48 and its two-hundred day simple moving average is $14.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $3.89 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 3.07 and a beta of 0.88. Apple Hospitality REIT has a 12 month low of $10.85 and a 12 month high of $17.28.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $402.55 million during the quarter, compared to analyst estimates of $391.88 million. Apple Hospitality REIT had a net margin of 12.17% and a return on equity of 5.56%. As a group, sell-side analysts expect that Apple Hospitality REIT will post 1.64 EPS for the current fiscal year.

Institutional Trading of Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock valued at $2,205,000 after acquiring an additional 4,712 shares during the period. AQR Capital Management LLC increased its holdings in Apple Hospitality REIT by 114.3% in the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock worth $1,732,000 after acquiring an additional 72,553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Apple Hospitality REIT by 5.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock worth $1,776,000 after acquiring an additional 6,788 shares during the period. NewEdge Advisors LLC raised its stake in Apple Hospitality REIT by 295.9% during the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 1,814 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Apple Hospitality REIT by 10,235.7% during the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock worth $280,000 after acquiring an additional 21,495 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

About Apple Hospitality REIT

Apple Hospitality REIT NYSE: APLE is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company's portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.

The company's holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.

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