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

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared 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 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. 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 Stock Performance

Shares of APLE traded up $0.04 on Monday, reaching $12.38. The company's stock had a trading volume of 491,532 shares, compared to its average volume of 2,404,394. 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 stock has a market capitalization of $2.94 billion, a P/E ratio of 15.66 and a beta of 1.04. The stock's 50 day simple moving average is $11.87 and its two-hundred day simple moving average is $13.03. Apple Hospitality REIT has a 12-month low of $10.44 and a 12-month high of $16.50.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last announced its quarterly earnings results 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. Apple Hospitality REIT had a net margin of 13.38% and a return on equity of 5.84%. The company had revenue of $327.70 million for the quarter, compared to analysts' expectations of $332.86 million. Research analysts forecast that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

Insider Transactions at Apple Hospitality REIT

In related news, Chairman Glade M. Knight acquired 10,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $11.43 per share, with a total value of $114,300.00. Following the completion of the transaction, the chairman owned 700,344 shares in the company, valued at $8,004,931.92. This represents a 1.45% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 12,000 shares of company stock valued at $137,120. 7.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of Apple Hospitality REIT by 2.8% during the 1st quarter. Royal Bank of Canada now owns 170,862 shares of the real estate investment trust's stock worth $2,205,000 after purchasing an additional 4,712 shares during the period. AQR Capital Management LLC grew 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 valued at $1,732,000 after purchasing an additional 72,553 shares during the last quarter. 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 valued at $1,776,000 after purchasing an additional 6,788 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Apple Hospitality REIT by 295.9% in the first quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 1,814 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings 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 valued at $280,000 after purchasing an additional 21,495 shares during the last quarter. Institutional investors and hedge funds own 89.66% of the company's stock.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lowered shares of 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Apple Hospitality REIT has a consensus rating of "Hold" and a consensus price target of $15.75.

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.