Apple Hospitality REIT Inc (NYSE:aple) declared a monthly dividend on Monday, March 20th. Shareholders of record on Tuesday, April 4th will be paid a dividend of 0.10 per share by the real estate investment trust on Monday, April 17th. This represents a $1.20 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend is Friday, March 31st.
Apple Hospitality REIT has a payout ratio of 67.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Apple Hospitality REIT to earn $0.99 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 121.2%.
Apple Hospitality REIT (NYSE:APLE) traded down 0.26% during trading on Friday, hitting $19.13. The company had a trading volume of 654,661 shares. The company’s 50 day moving average price is $18.93 and its 200-day moving average price is $19.15. The company has a market cap of $4.26 billion, a PE ratio of 25.24 and a beta of 0.67. Apple Hospitality REIT has a 12 month low of $17.32 and a 12 month high of $20.68.
A number of equities analysts have weighed in on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Apple Hospitality REIT in a research note on Thursday, April 6th. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “buy” rating to a “sell” rating in a research note on Tuesday, February 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, December 23rd. Finally, FBR & Co set a $20.00 target price on shares of Apple Hospitality REIT and gave the stock a “hold” rating in a research note on Monday, March 6th. 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 stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.60.
In other Apple Hospitality REIT news, Director Jon A. Fosheim purchased 1,500 shares of the stock in a transaction dated Monday, March 6th. The stock was bought at an average price of $19.02 per share, for a total transaction of $28,530.00. Following the transaction, the director now directly owns 16,037 shares in the company, valued at $305,023.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Redd Hugh purchased 10,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $19.11 per share, with a total value of $191,100.00. Following the transaction, the director now owns 49,425 shares in the company, valued at $944,511.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 14,100 shares of company stock valued at $269,888. Insiders own 6.40% of the company’s stock.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of December 31, 2016, the Company owned 235 hotels with an aggregate of 30,073 rooms located in urban, suburban and developing markets throughout 33 states.
