Apple Hospitality REIT Inc (NYSE:APLE) declared a monthly dividend on Thursday, June 20th, NASDAQ reports. Investors of record on Tuesday, July 2nd will be given a dividend of 0.10 per share by the real estate investment trust on Monday, July 15th. This represents a $1.20 annualized dividend and a yield of 7.78%. The ex-dividend date is Monday, July 1st.
Apple Hospitality REIT has increased its dividend payment by an average of 19.7% per year over the last three years. Apple Hospitality REIT has a dividend payout ratio of 69.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Apple Hospitality REIT to earn $1.67 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 71.9%.
Apple Hospitality REIT stock traded down $0.18 during midday trading on Friday, hitting $15.42. 1,324,314 shares of the stock were exchanged, compared to its average volume of 1,249,895. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.58 and a quick ratio of 0.58. Apple Hospitality REIT has a 52 week low of $13.81 and a 52 week high of $18.24. The firm has a fifty day moving average price of $15.75. The stock has a market capitalization of $3.45 billion, a PE ratio of 8.97, a PEG ratio of 1.86 and a beta of 0.82.
Apple Hospitality REIT (NYSE:APLE) last announced its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Zacksâ€™ consensus estimate of $0.37 by ($0.20). The business had revenue of $303.79 million during the quarter, compared to the consensus estimate of $303.62 million. Apple Hospitality REIT had a return on equity of 5.82% and a net margin of 15.84%. The businessâ€™s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. On average, research analysts forecast that Apple Hospitality REIT will post 1.66 EPS for the current fiscal year.
In other news, Director Redd Hugh acquired 2,000 shares of the businessâ€™s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average price of $15.88 per share, with a total value of $31,760.00. Following the completion of the transaction, the director now directly owns 92,154 shares of the companyâ€™s stock, valued at approximately $1,463,405.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Glade M. Knight acquired 5,000 shares of the businessâ€™s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $16.42 per share, with a total value of $82,100.00. Following the transaction, the chairman now directly owns 10,128,812 shares of the companyâ€™s stock, valued at $166,315,093.04. The disclosure for this purchase can be found here. Insiders own 6.50% of the companyâ€™s stock.
A number of brokerages recently weighed in on APLE. Capital One Financial began coverage on shares of Summit Hotel Properties in a report on Tuesday, June 25th. They set an â€œequal weightâ€ rating and a $13.00 target price on the stock. Zacks Investment Research upgraded shares of Hallmark Financial Services from a â€œholdâ€ rating to a â€œbuyâ€ rating and set a $16.00 target price on the stock in a report on Friday. Finally, ValuEngine downgraded shares of Zosano Pharma from a â€œbuyâ€ rating to a â€œholdâ€ rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of â€œHoldâ€ and an average price target of $18.25.
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, select-service hotels in the United States. Apple Hospitality’s portfolio consists of 241 hotels with more than 30,800 guest rooms located in 88 markets throughout 34 states.
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