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

Key Points

• Apple Hospitality REIT declared a monthly dividend of $0.08 per share, payable November 16 to shareholders of record October 30. The annualized dividend is $0.96 per share, representing a 5.3% yield.
• The current payout ratio is elevated at 124.7%, meaning earnings do not fully cover the dividend. However, analysts expect next year’s earnings to support a lower projected payout ratio of 61.1%.
• Shares recently traded at $18.12, near the company’s 52-week high of $18.27. In its latest quarter, Apple Hospitality beat earnings and revenue estimates, reporting EPS of $0.28 and revenue of $402.55 million.

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a monthly dividend on Tuesday, October 20th. Investors of record on Friday, October 30th will be given a dividend of $0.08 per share by the real estate investment trust on Monday, November 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, October 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 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 $1.57 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 61.1%.

Apple Hospitality REIT Price Performance

NYSE APLE traded up $0.30 during mid-day trading on Wednesday, hitting $18.12. The stock had a trading volume of 1,015,823 shares, compared to its average volume of 2,877,538. Apple Hospitality REIT has a 52-week low of $10.85 and a 52-week high of $18.27. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 24.48, a P/E/G ratio of 3.37 and a beta of 0.92. The company has a 50 day simple moving average of $16.13 and a 200 day simple moving average of $15.45. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Apple Hospitality REIT (NYSE:APLE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $402.55 million during the quarter, compared to analysts' expectations of $391.88 million. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%. Equities analysts forecast that Apple Hospitality REIT will post 1.60 EPS for the current fiscal year.

About Apple Hospitality REIT

Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company's properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.

Apple Hospitality's hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.

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