Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) announced a monthly dividend on Monday, July 20th. Shareholders of record on Friday, July 31st will be paid a dividend of 0.08 per share by the real estate investment trust on Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, July 31st.
Apple Hospitality REIT has increased its dividend payment by an average of 0.3%per year over the last three years. Apple Hospitality REIT has a dividend 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 research analysts expect Apple Hospitality REIT to earn $1.58 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 60.8%.
Apple Hospitality REIT Price Performance
APLE traded up $0.07 during midday trading on Monday, hitting $16.91. The company had a trading volume of 2,616,579 shares, compared to its average volume of 2,996,045. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $3.99 billion, a PE ratio of 23.17, a P/E/G ratio of 8.22 and a beta of 0.87. Apple Hospitality REIT has a twelve month low of $10.85 and a twelve month high of $17.09. The firm’s 50-day simple moving average is $15.70 and its 200-day simple moving average is $13.49.
Analyst Upgrades and Downgrades
APLE has been the topic of several research reports. Cantor Fitzgerald upped their price objective on Apple Hospitality REIT from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. LADENBURG THALM/SH SH boosted their target price on Apple Hospitality REIT from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Barclays upped their price target on Apple Hospitality REIT from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. Wells Fargo & Company raised their price target on Apple Hospitality REIT from $12.00 to $15.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. started coverage on Apple Hospitality REIT in a research report on Monday, June 1st. They issued a “neutral” rating and a $15.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Apple Hospitality REIT presently has an average rating of “Hold” and a consensus price target of $15.50.
Read Our Latest Stock Report on Apple Hospitality REIT
Apple Hospitality REIT Company Profile
Apple Hospitality REIT (NYSE: APLE) is a publicly traded real estate investment trust that focuses on acquiring, owning and operating high-quality, upscale, select-service hotels. The company’s portfolio primarily consists of properties operated under premium franchise agreements with leading lodging brands such as Marriott, Hilton and Hyatt. Apple Hospitality REIT is self-managed and internally advised, overseeing property management, revenue optimization and asset-level operations through its in-house team of hospitality professionals.
The company’s holdings encompass over 200 hotels featuring more than 30,000 guest rooms across a diverse array of markets in the United States.
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