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

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Tuesday, November 18th. Shareholders of record on Friday, November 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, December 15th. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date is Friday, November 28th.

Apple Hospitality REIT has decreased its dividend by an average of 0.0%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 $1.62 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 Trading Down 0.0%

APLE stock traded down $0.01 during midday trading on Tuesday, hitting $11.56. The company had a trading volume of 1,318,765 shares, compared to its average volume of 2,865,315. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 15.41 and a beta of 1.04. Apple Hospitality REIT has a 52 week low of $10.44 and a 52 week high of $16.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $11.85 and its 200 day moving average price is $11.99.

Apple Hospitality REIT (NYSE:APLE) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Apple Hospitality REIT had a net margin of 12.71% and a return on equity of 5.58%. The company had revenue of $373.88 million for the quarter, compared to the consensus estimate of $371.94 million. As a group, equities research analysts expect that Apple Hospitality REIT will post 1.6 earnings per share for the current fiscal year.

About Apple Hospitality REIT

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.