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

Key Points

• Apple Hospitality REIT (NYSE:APLE) declared a monthly dividend of $0.08 per share, payable May 15 to holders of record April 30, implying an annualized dividend of $0.96 and a 7.3% yield.
• The REIT's current dividend payout ratio is 124.7%, meaning recent earnings don't cover the dividend and the company is drawing on its balance sheet, but analysts forecast $1.53 EPS next year which would cut the expected payout ratio to about 62.7%.
• Apple Hospitality reported a quarterly EPS of $0.13 (vs. $0.29 expected), and its shares trade near $13.12 with a market cap of about $3.1 billion and a P/E of 8.55.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) declared a monthly dividend on Monday, April 20th. Stockholders of record on Thursday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Thursday, April 30th.

Apple Hospitality REIT has increased its dividend by an average of 0.3%per year over the last three years. 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. Analysts expect Apple Hospitality REIT to earn $1.53 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 62.7%.

Apple Hospitality REIT Price Performance

Shares of APLE traded up $0.12 during mid-day trading on Monday, hitting $13.12. 3,296,460 shares of the stock were exchanged, compared to its average volume of 3,800,054. The company has a market cap of $3.10 billion, a PE ratio of 8.55 and a beta of 0.82. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $13.27. The firm has a 50-day moving average of $12.09 and a two-hundred day moving average of $11.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.40 and a current ratio of 0.40.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.16). Apple Hospitality REIT had a net margin of 12.42% and a return on equity of 5.50%. The company had revenue of $326.44 million for the quarter, compared to analysts' expectations of $322.60 million. On average, equities analysts predict that Apple Hospitality REIT will post 1.49 earnings per share for the current year.

About Apple Hospitality REIT

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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