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

Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Wednesday, February 19th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 6.25%. The ex-dividend date is Friday, February 28th.

Apple Hospitality REIT has increased its dividend payment by an average of 188.5% per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 110.3% meaning 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 Stock Down 0.2 %

NYSE:APLE traded down $0.03 during midday trading on Wednesday, hitting $15.35. 1,529,081 shares of the company were exchanged, compared to its average volume of 1,700,631. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $3.68 billion, a PE ratio of 18.06 and a beta of 1.13. Apple Hospitality REIT has a fifty-two week low of $13.60 and a fifty-two week high of $16.99. The company has a fifty day simple moving average of $15.37 and a 200 day simple moving average of $15.09.

Analysts Set New Price Targets

A number of research analysts have commented on APLE shares. Wells Fargo & Company dropped their price objective on shares of Apple Hospitality REIT from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Bank of America upgraded shares of Apple Hospitality REIT from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $17.00 in a research note on Monday, January 27th. BMO Capital Markets began coverage on shares of Apple Hospitality REIT in a research note on Monday, December 9th. They issued an “outperform” rating and a $18.00 price objective on the stock. StockNews.com raised shares of Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 target price (up previously from $17.00) on shares of Apple Hospitality REIT in a report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.80.

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.