Apple Hospitality REIT, Inc. (NYSE:APLE) to Issue Aug 25 Dividend of $0.08

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a aug 25 dividend on Tuesday, August 19th, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.08 per share by the real estate investment trust on Monday, September 15th. This represents a dividend yield of 780.0%. The ex-dividend date is Friday, August 29th.

Apple Hospitality REIT has a dividend payout ratio of 124.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Apple Hospitality REIT to earn $1.62 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 59.3%.

Apple Hospitality REIT Stock Performance

Shares of APLE opened at $12.3650 on Thursday. The company has a market capitalization of $2.93 billion, a PE ratio of 16.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.78 and a current ratio of 0.78. The company’s 50 day moving average price is $12.03 and its 200 day moving average price is $12.59. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $16.50.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The company had revenue of $384.37 million during the quarter, compared to analyst estimates of $381.37 million. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. Research analysts expect that Apple Hospitality REIT will post 1.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. raised its holdings in Apple Hospitality REIT by 12,230.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,466 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 2,446 shares during the period. NewEdge Advisors LLC raised its holdings in Apple Hospitality REIT by 295.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,427 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,814 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Apple Hospitality REIT by 444.4% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,793 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,280 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Apple Hospitality REIT by 1,375.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,832 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 2,640 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Apple Hospitality REIT by 569.5% in the 1st quarter. Versant Capital Management Inc now owns 2,805 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 2,386 shares during the period. Institutional investors own 89.66% of the company’s stock.

Apple Hospitality REIT Company Profile

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.