Apple Hospitality REIT, Inc. (NYSE:APLE – Get Free Report) announced a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 annualized dividend and a dividend yield of 6.40%. The ex-dividend date is Monday, April 29th.
Apple Hospitality REIT has raised its dividend payment by an average of 47.4% per year over the last three years. Apple Hospitality REIT has a payout ratio of 109.1% 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 $1.62 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 Performance
Apple Hospitality REIT stock opened at $15.00 on Friday. The firm’s fifty day moving average price is $16.07 and its 200-day moving average price is $16.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $3.64 billion, a P/E ratio of 19.23 and a beta of 1.08. Apple Hospitality REIT has a fifty-two week low of $14.22 and a fifty-two week high of $17.90.
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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.
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