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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Monday, November 20th, NASDAQ reports. Stockholders of record on Thursday, November 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Wednesday, November 29th.

Apple Hospitality REIT has decreased its dividend payment by an average of 17.3% annually over the last three years and has increased its dividend every year for the last 1 years. Apple Hospitality REIT has a dividend payout ratio of 112.9% 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 $1.63 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 58.9%.

Apple Hospitality REIT Stock Performance

Shares of APLE traded up $0.06 during midday trading on Monday, reaching $16.55. 1,203,556 shares of the stock were exchanged, compared to its average volume of 1,989,585. Apple Hospitality REIT has a twelve month low of $13.66 and a twelve month high of $18.22. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.04. The company has a market cap of $3.79 billion, a P/E ratio of 23.56 and a beta of 1.13. The stock’s 50 day simple moving average is $15.76 and its 200 day simple moving average is $15.35.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, November 13th. Wolfe Research assumed coverage on Apple Hospitality REIT in a research note on Wednesday, September 27th. They issued a “peer perform” rating for the company. Oppenheimer decreased their target price on Apple Hospitality REIT from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, August 7th. B. Riley decreased their target price on Apple Hospitality REIT from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 10th. Finally, StockNews.com upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research report on Sunday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Apple Hospitality REIT has an average rating of “Moderate Buy” and an average price target of $18.20.

Hedge Funds Weigh In On Apple Hospitality REIT

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Trading LLC acquired a new position in Apple Hospitality REIT in the first quarter valued at approximately $198,000. Balyasny Asset Management L.P. lifted its stake in Apple Hospitality REIT by 524.1% in the first quarter. Balyasny Asset Management L.P. now owns 12,195 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 10,241 shares during the period. Cetera Advisor Networks LLC acquired a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $185,000. Jefferies Financial Group Inc. acquired a new position in Apple Hospitality REIT in the fourth quarter valued at approximately $175,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in Apple Hospitality REIT in the second quarter valued at approximately $175,000. 80.53% of the stock is owned by institutional investors and hedge funds.

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 220 hotels with more than 28,900 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties.