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

Key Points

• Apple Hospitality REIT declared a $0.08 monthly dividend (annualized $0.96) payable April 15 to shareholders of record March 31, implying a 8.1% yield.
• The REIT currently has a 124.7% payout ratio, meaning dividends exceed recent earnings and are being funded from the balance sheet, though analysts project $1.62 EPS next year which would cut the expected payout ratio to about 59.3%.
• In the most recent quarter Apple Hospitality reported $0.13 EPS (missing estimates) with revenue of $326.4M, and the stock traded around $11.86 (up ~0.6%) with a 12‑month range of $10.44–$13.69.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a monthly dividend on Thursday, March 19th. Stockholders of record on Tuesday, March 31st will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Tuesday, March 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% 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 $1.62 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 Up 0.6%

Shares of Apple Hospitality REIT stock traded up $0.07 on Thursday, hitting $11.86. The company had a trading volume of 2,270,414 shares, compared to its average volume of 2,415,315. Apple Hospitality REIT has a twelve month low of $10.44 and a twelve month high of $13.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50-day moving average of $12.17 and a 200-day moving average of $12.02. The firm has a market capitalization of $2.79 billion, a P/E ratio of 16.02 and a beta of 0.81.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.16). The company had revenue of $326.44 million during the quarter, compared to the consensus estimate of $322.60 million. Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. Research analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Apple Hospitality REIT Company Profile

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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