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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a jul 25 dividend on Friday, July 18th, RTT News reports. Investors of record on Thursday, July 31st will be given a dividend of 0.08 per share by the real estate investment trust on Friday, August 15th.

Apple Hospitality REIT has a dividend payout ratio of 124.7% indicating that 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 Price Performance

APLE traded down $0.02 on Friday, hitting $12.26. 528,507 shares of the stock were exchanged, compared to its average volume of 2,398,099. Apple Hospitality REIT has a 12 month low of $10.44 and a 12 month high of $16.50. The business has a 50-day moving average of $11.86 and a two-hundred day moving average of $13.08. 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 capitalization of $2.92 billion, a price-to-earnings ratio of 15.47 and a beta of 1.04.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $327.70 million during the quarter, compared to the consensus estimate of $332.86 million. Apple Hospitality REIT had a return on equity of 5.84% and a net margin of 13.38%. Sell-side analysts forecast that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, BMO Capital Markets downgraded Apple Hospitality REIT from an "outperform" rating to a "market perform" rating and decreased their price target 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 issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $15.75.

Insider Buying and Selling at Apple Hospitality REIT

In related news, Chairman Glade M. Knight bought 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $11.43 per share, with a total value of $114,300.00. Following the acquisition, the chairman owned 700,344 shares in the company, valued at $8,004,931.92. This trade represents a 1.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders acquired 12,000 shares of company stock worth $137,120. 7.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Apple Hospitality REIT

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Apple Hospitality REIT by 2.8% in the first quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock valued at $2,205,000 after purchasing an additional 4,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Apple Hospitality REIT by 5.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 137,557 shares of the real estate investment trust's stock worth $1,776,000 after purchasing an additional 6,788 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Apple Hospitality REIT by 114.3% during the 1st quarter. AQR Capital Management LLC now owns 136,046 shares of the real estate investment trust's stock valued at $1,732,000 after purchasing an additional 72,553 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Apple Hospitality REIT by 10.0% during the 1st quarter. Empowered Funds LLC now owns 24,588 shares of the real estate investment trust's stock valued at $317,000 after purchasing an additional 2,238 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Apple Hospitality REIT by 10,235.7% during the 1st quarter. Jones Financial Companies Lllp now owns 21,705 shares of the real estate investment trust's stock valued at $280,000 after purchasing an additional 21,495 shares during the last quarter. 89.66% of the stock is owned by institutional investors.

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.

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