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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, June 30th.

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 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. Analysts expect Apple Hospitality REIT to earn $1.58 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 60.8%.

Apple Hospitality REIT Price Performance

Shares of NYSE:APLE opened at $16.61 on Friday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 7.94 and a beta of 0.89. The firm has a fifty day moving average price of $14.21 and a 200 day moving average price of $12.80. Apple Hospitality REIT has a fifty-two week low of $10.85 and a fifty-two week high of $16.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80.

Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings results on Monday, May 4th. The real estate investment trust reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $337.74 million for the quarter, compared to analysts’ expectations of $327.81 million. Apple Hospitality REIT had a net margin of 12.08% and a return on equity of 5.43%. As a group, sell-side analysts expect that Apple Hospitality REIT will post 1.58 earnings per share for the current fiscal year.

About Apple Hospitality REIT

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.