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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, November 19th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, December 16th. This represents a $0.96 annualized dividend and a yield of 6.25%. The ex-dividend date is Friday, November 29th.

Apple Hospitality REIT has a payout ratio of 112.9% meaning 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 $1.65 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 58.2%.

Apple Hospitality REIT Stock Performance

NYSE:APLE traded down $0.08 on Wednesday, reaching $15.36. 1,476,776 shares of the company’s stock were exchanged, compared to its average volume of 2,048,833. Apple Hospitality REIT has a 52 week low of $13.60 and a 52 week high of $17.90. The stock has a fifty day simple moving average of $15.07 and a 200-day simple moving average of $14.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 18.04 and a beta of 1.11.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.22). The company had revenue of $378.84 million for the quarter, compared to the consensus estimate of $377.56 million. Apple Hospitality REIT had a net margin of 14.53% and a return on equity of 6.17%. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts predict that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on APLE. StockNews.com lowered Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Oppenheimer restated an “outperform” rating and set a $18.00 price target (up from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price target on shares of Apple Hospitality REIT from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.50.

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.