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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, January 21st,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be given a dividend of 0.08 per share by the real estate investment trust on Tuesday, February 18th. This represents a $0.96 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Friday, January 31st.

Apple Hospitality REIT has raised its dividend by an average of 188.5% annually over the last three years. Apple Hospitality REIT has a payout ratio of 110.3% 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 $1.63 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 58.9%.

Apple Hospitality REIT Trading Up 1.5 %

NYSE:APLE opened at $15.27 on Wednesday. The company has a market capitalization of $3.66 billion, a P/E ratio of 17.96 and a beta of 1.13. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. Apple Hospitality REIT has a 12 month low of $13.60 and a 12 month high of $16.99. The firm has a fifty day simple moving average of $15.57 and a 200-day simple moving average of $15.01.

Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 4th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.22). The firm had revenue of $378.84 million for the quarter, compared to analyst estimates of $377.56 million. Apple Hospitality REIT had a return on equity of 6.17% and a net margin of 14.53%. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities research analysts anticipate that Apple Hospitality REIT will post 1.6 earnings per share for the current year.

Analysts Set New Price Targets

APLE has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a research report on Friday, November 8th. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets initiated coverage on shares of Apple Hospitality REIT in a report on Monday, December 9th. They set an “outperform” rating and a $18.00 target price for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.50.

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.