Apple Hospitality REIT, Inc. (NYSE:APLE) Declares $0.08 Monthly Dividend

Apple Hospitality REIT, Inc. (NYSE:APLE - Get Free Report) announced a monthly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Monday, April 29th.

Apple Hospitality REIT has raised its dividend payment by an average of 47.4% annually over the last three years.

Apple Hospitality REIT Stock Performance

Shares of NYSE:APLE traded up $0.22 during midday trading on Friday, hitting $15.15. The stock had a trading volume of 1,778,806 shares, compared to its average volume of 1,901,520. The company has a market capitalization of $3.67 billion, a PE ratio of 19.42 and a beta of 1.08. The stock has a 50 day moving average price of $16.14 and a two-hundred day moving average price of $16.25. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.45. Apple Hospitality REIT has a 1 year low of $14.22 and a 1 year high of $17.90.

Institutional Trading of Apple Hospitality REIT

Institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 5.9% during the fourth quarter. Profund Advisors LLC now owns 12,790 shares of the real estate investment trust's stock valued at $212,000 after buying an additional 713 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Apple Hospitality REIT by 0.8% during the fourth quarter. Baird Financial Group Inc. now owns 92,924 shares of the real estate investment trust's stock valued at $1,467,000 after buying an additional 739 shares during the period. Lido Advisors LLC lifted its stake in shares of Apple Hospitality REIT by 1.5% during the first quarter. Lido Advisors LLC now owns 52,034 shares of the real estate investment trust's stock valued at $935,000 after buying an additional 786 shares during the period. LPL Financial LLC lifted its stake in shares of Apple Hospitality REIT by 0.6% during the first quarter. LPL Financial LLC now owns 163,121 shares of the real estate investment trust's stock valued at $2,532,000 after buying an additional 1,028 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Apple Hospitality REIT by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 87,354 shares of the real estate investment trust's stock valued at $1,378,000 after buying an additional 1,273 shares during the period. Hedge funds and other institutional investors own 89.66% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Apple Hospitality REIT from a "hold" rating to a "sell" rating in a report on Monday, February 26th. Bank of America downgraded shares of Apple Hospitality REIT from a "buy" rating to a "neutral" rating and lowered their target price for the company from $19.00 to $18.00 in a report on Monday, January 8th. Finally, Wells Fargo & Company lifted their target price on shares of Apple Hospitality REIT from $17.00 to $18.00 and gave the company an "equal weight" rating in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.40.

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.