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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a monthly dividend on Friday, June 20th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.96 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend is Monday, June 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. 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 Stock Performance

Shares of Apple Hospitality REIT stock traded up $0.10 during trading hours on Monday, reaching $11.71. The company had a trading volume of 3,326,031 shares, compared to its average volume of 2,335,194. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $2.79 billion, a PE ratio of 14.82 and a beta of 1.04. Apple Hospitality REIT has a one year low of $10.44 and a one year high of $16.50. The business has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $13.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. 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 $327.70 million during the quarter, compared to analyst estimates of $332.86 million. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. On average, analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut shares of Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $14.00 to $12.00 in a research report on Monday, June 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.75.

Insiders Place Their Bets

In other Apple Hospitality REIT news, Chairman Glade M. Knight purchased 10,000 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $11.43 per share, for a total transaction of $114,300.00. Following the completion of the transaction, the chairman now directly owns 700,344 shares in the company, valued at approximately $8,004,931.92. This represents a 1.45% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders bought a total of 12,000 shares of company stock valued at $137,120 over the last quarter. 7.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Apple Hospitality REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC grew its holdings in shares of 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. Jones Financial Companies Lllp grew its stake in Apple Hospitality REIT by 10,235.7% in the first quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock worth $280,000 after purchasing an additional 21,495 shares during the period. Empowered Funds LLC grew its stake in Apple Hospitality REIT by 10.0% in the first quarter. Empowered Funds LLC now owns 24,588 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 2,238 shares during the period. AQR Capital Management LLC raised its holdings in Apple Hospitality REIT by 114.3% in the first quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock worth $1,732,000 after purchasing an additional 72,553 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Apple Hospitality REIT by 5.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock valued at $1,776,000 after buying an additional 6,788 shares during the period. Institutional investors own 89.66% of the company's stock.

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.