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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Friday, September 18th. Investors of record on Wednesday, September 30th will be given a dividend of 0.08 per share by the real estate investment trust on Thursday, October 15th. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date is Wednesday, September 30th.

Apple Hospitality REIT has raised its dividend payment by an average of 0.3%annually 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. Equities 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

APLE traded down $0.03 during midday trading on Friday, reaching $15.56. 5,070,051 shares of the company’s stock were exchanged, compared to its average volume of 2,942,659. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $16.22 and a two-hundred day simple moving average of $14.73. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 3.02 and a beta of 0.88. Apple Hospitality REIT has a one year low of $10.85 and a one year high of $17.28.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Apple Hospitality REIT had a return on equity of 5.56% and a net margin of 12.17%.The company had revenue of $402.55 million for the quarter, compared to analyst estimates of $391.88 million. As a group, research analysts predict that Apple Hospitality REIT will post 1.6 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Godfrey Financial Associates Inc. bought a new stake in Apple Hospitality REIT during the 4th quarter worth approximately $43,000. Inspire Investing LLC raised its position in Apple Hospitality REIT by 2,965.1% in the 1st quarter. Inspire Investing LLC now owns 3,862 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 3,736 shares during the last quarter. Compass Financial Management LLC acquired a new position in Apple Hospitality REIT in the second quarter worth $56,000. Nykredit A S acquired a new position in Apple Hospitality REIT in the second quarter worth $62,000. Finally, Allworth Financial LP grew its holdings in shares of Apple Hospitality REIT by 69.7% during the second quarter. Allworth Financial LP now owns 3,819 shares of the real estate investment trust’s stock worth $64,000 after purchasing an additional 1,569 shares during the last quarter. 89.66% of the stock is owned by institutional investors and hedge funds.

Apple Hospitality REIT Company Profile

Apple Hospitality REIT, Inc is a real estate investment trust that owns a portfolio of upscale, select-service and extended-stay hotels across the United States. The company generates revenue primarily through hotel operations, including room accommodations, food and beverage services, and other guest services.

Its properties operate under well-known hotel brands, including Marriott, Hilton and Hyatt. The portfolio includes brands such as Courtyard by Marriott, Fairfield by Marriott, Residence Inn, SpringHill Suites, Hampton by Hilton, Hilton Garden Inn, Homewood Suites, Hyatt Place and Hyatt House, among others.