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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a monthly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Wednesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Thursday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date is Wednesday, April 30th.

Apple Hospitality REIT has increased its dividend by an average of 188.5% per year over the last three years. Apple Hospitality REIT has a payout ratio of 115.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

Shares of APLE stock traded down $0.02 on Friday, reaching $11.90. 1,889,097 shares of the company were exchanged, compared to its average volume of 2,220,828. Apple Hospitality REIT has a 1 year low of $10.44 and a 1 year high of $16.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.04 and a current ratio of 0.04. The business has a 50-day moving average price of $13.03 and a 200 day moving average price of $14.60. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 14.00 and a beta of 1.00.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $333.04 million during the quarter, compared to analyst estimates of $330.11 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. Equities research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on APLE. Wells Fargo & Company lowered their target price on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Bank of America raised shares of Apple Hospitality REIT from a "neutral" rating to a "buy" rating and upped their price objective for the company from $16.00 to $17.00 in a research note on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.80.

Apple Hospitality REIT Company Profile

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.