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

Key Points

• Apple Hospitality REIT announced a monthly dividend of $0.08 per share. Shareholders of record on July 31 will be paid on August 17, and the dividend implies an annualized yield of about 5.7%.
• The REIT’s dividend looks somewhat stretched today, with a 124.7% payout ratio, meaning earnings do not currently fully cover the payout. However, analysts expect stronger earnings next year, which could bring the payout ratio down to about 60.8%.
• Apple Hospitality REIT recently reported quarterly results that beat expectations, posting $0.12 EPS versus the $0.11 estimate and revenue of $337.74 million. The stock also traded near its 52-week high, reflecting improved market performance.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a monthly dividend on Monday, July 20th. Investors of record on Friday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Friday, July 31st.

Apple Hospitality REIT has increased its dividend payment by an average of 0.3%per year over the last three years. 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 $1.58 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 60.8%.

Apple Hospitality REIT Stock Performance

Apple Hospitality REIT stock traded up $0.07 during trading hours on Monday, hitting $16.91. The stock had a trading volume of 2,616,579 shares, compared to its average volume of 2,996,045. The company has a 50-day moving average of $15.70 and a two-hundred day moving average of $13.49. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $3.99 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 8.22 and a beta of 0.87. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $17.09.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $337.74 million for the quarter, compared to analyst estimates of $327.81 million. Apple Hospitality REIT had a return on equity of 5.43% and a net margin of 12.08%. On average, equities research analysts anticipate that Apple Hospitality REIT will post 1.58 EPS for the current fiscal 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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