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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, May 19th. Investors of record on Friday, May 29th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, May 29th.

Apple Hospitality REIT has increased its dividend payment by an average of 0.3%annually 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. Equities analysts expect Apple Hospitality REIT to earn $1.54 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 62.3%.

Apple Hospitality REIT Trading Down 0.7%

APLE traded down $0.10 on Tuesday, reaching $14.00. 1,836,103 shares of the company traded hands, compared to its average volume of 3,012,295. Apple Hospitality REIT has a one year low of $10.85 and a one year high of $14.19. The firm has a fifty day simple moving average of $12.58 and a two-hundred day simple moving average of $12.20. The company has a market cap of $3.30 billion, a P/E ratio of 19.17 and a beta of 0.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.54.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. The company had revenue of $337.74 million during the quarter, compared to analyst estimates of $327.81 million. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.55 earnings per share for the current year.

Apple Hospitality REIT Company Profile

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.