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

Key Points

• Apple Hospitality REIT, Inc. plans to issue a monthly dividend of $0.08 per share on November 17th, with a yield of 8.2% and an ex-dividend date of October 31st.
• The company's current dividend payout ratio stands at 124.7%, relying on its balance sheet for payments, but is expected to improve in the future with earnings projected at $1.62 per share next year.
• Analysts have varied ratings on the stock, with an average target price of $14.50, indicating confidence in its potential for growth despite some recent adjustments in price objectives.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a monthly dividend on Monday, October 20th. Stockholders of record on Friday, October 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date is Friday, October 31st.

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

Shares of APLE stock traded up $0.12 during trading hours on Monday, reaching $11.67. 2,239,970 shares of the company's stock were exchanged, compared to its average volume of 2,839,777. Apple Hospitality REIT has a fifty-two week low of $10.44 and a fifty-two week high of $16.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.76 billion, a P/E ratio of 15.55 and a beta of 1.02. The business has a fifty day moving average price of $12.30 and a 200-day moving average price of $11.99.

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

Wall Street Analyst Weigh In

APLE has been the topic of several analyst reports. Robert W. Baird lowered their price objective on Apple Hospitality REIT from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. Cantor Fitzgerald assumed coverage on shares of Apple Hospitality REIT in a research note on Wednesday, October 1st. They set an "overweight" rating and a $14.00 price target on the stock. Wells Fargo & Company upgraded Apple Hospitality REIT to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Apple Hospitality REIT in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.50.

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.

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