Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) announced a monthly dividend on Monday, October 19th. Stockholders of record on Friday, October 30th will be given a dividend of $0.08 per share by the real estate investment trust on Monday, November 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Friday, October 30th.
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. Research analysts expect Apple Hospitality REIT to earn $1.61 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 59.6%.
Apple Hospitality REIT Trading Up 2.0%
Shares of NYSE APLE opened at $18.63 on Wednesday. The stock has a 50 day simple moving average of $16.37 and a 200-day simple moving average of $14.55. Apple Hospitality REIT has a 12-month low of $10.85 and a 12-month high of $18.66.
Apple Hospitality REIT (NYSE:APLE – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $402.55 million during the quarter, compared to the consensus estimate of $391.88 million. As a group, equities analysts forecast that Apple Hospitality REIT will post 1.63 earnings per share for the current year.
About Apple Hospitality REIT
Apple Hospitality REIT, Inc is a self-administered and self-managed real estate investment trust that owns a portfolio of upscale, select-service hotels across the United States. The company’s properties primarily operate under well-known hospitality brands affiliated with Marriott International, Hilton Worldwide Holdings and Hyatt Hotels Corporation.
Apple Hospitality’s hotels provide lodging and related guest services, including accommodations, meeting facilities, food and beverage offerings, and other amenities.
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