Apple Hospitality REIT Inc Declares Monthly Dividend of $0.10 (APLE)

Apple Hospitality REIT Inc (NYSE:APLE) announced a monthly dividend on Wednesday, May 22nd, Wall Street Journal reports. Stockholders of record on Monday, June 3rd will be given a dividend of 0.10 per share by the real estate investment trust on Monday, June 17th. This represents a $1.20 annualized dividend and a dividend yield of 7.40%. The ex-dividend date is Friday, May 31st.

Shares of APLE stock traded down $0.16 during trading hours on Wednesday, hitting $16.21. The company had a trading volume of 1,065,356 shares, compared to its average volume of 1,101,580. Apple Hospitality REIT has a 12 month low of $13.81 and a 12 month high of $19.28. The firm has a market cap of $3.66 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.96 and a beta of 0.85. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.47.

Apple Hospitality REIT (NYSE:APLE) last released its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.20). Apple Hospitality REIT had a net margin of 15.84% and a return on equity of 5.82%. The company had revenue of $303.79 million during the quarter, compared to the consensus estimate of $303.62 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts forecast that Apple Hospitality REIT will post 1.67 EPS for the current year.

Several research firms have issued reports on APLE. Zacks Investment Research downgraded Apple Hospitality REIT from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. B. Riley reissued a “buy” rating on shares of Apple Hospitality REIT in a research note on Tuesday, February 26th. Finally, ValuEngine raised Apple Hospitality REIT from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.00.

In other Apple Hospitality REIT news, Chairman Glade M. Knight acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $16.42 per share, with a total value of $82,100.00. Following the purchase, the chairman now owns 10,128,812 shares of the company’s stock, valued at approximately $166,315,093.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daryl Arthur Nickel acquired 24,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average cost of $16.44 per share, for a total transaction of $394,560.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 35,000 shares of company stock worth $575,740. 6.50% of the stock is currently owned by company insiders.

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About Apple Hospitality REIT

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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Dividend History for Apple Hospitality REIT (NYSE:APLE)

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