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

Key Points

• Apple Hospitality REIT announced a dividend of $0.08 per share to be paid on October 15, with shareholders of record on September 30.
• The company has a dividend payout ratio of 124.7%, indicating reliance on its balance sheet to cover dividends, although future estimates suggest a sustainable payout ratio of 59.3%.
• Shares of Apple Hospitality REIT rose 1.9%, closing at $12.69, with notable trading volume indicating increased investor interest.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a oct 25 dividend on Thursday, September 18th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, October 15th. This represents a yield of 758.0%. The ex-dividend date of this dividend is Tuesday, September 30th.

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. 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

Apple Hospitality REIT stock traded down $0.19 during midday trading on Monday, reaching $12.32. 734,788 shares of the stock traded hands, compared to its average volume of 2,822,795. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $12.44 and a two-hundred day moving average price of $12.20. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 16.39 and a beta of 1.05. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $384.37 million for the quarter, compared to the consensus estimate of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. On average, equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

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.