Apple Hospitality REIT Inc (NYSE:APLE) declared a monthly dividend on Tuesday, November 21st, Wall Street Journal reports. Shareholders of record on Monday, December 4th will be given a dividend of 0.10 per share by the real estate investment trust on Monday, December 18th. This represents a $1.20 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend is Friday, December 1st.
Apple Hospitality REIT has a dividend payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Apple Hospitality REIT to earn $1.76 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 68.2%.
Apple Hospitality REIT (NYSE APLE) traded up $0.22 during trading on Thursday, reaching $19.68. The company’s stock had a trading volume of 2,131,941 shares, compared to its average volume of 1,036,680. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.12. Apple Hospitality REIT has a one year low of $17.49 and a one year high of $20.68. The firm has a market capitalization of $4,390.00 and a price-to-earnings ratio of 11.08.
Apple Hospitality REIT (NYSE:APLE) last issued its quarterly earnings results on Monday, November 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Apple Hospitality REIT had a return on equity of 6.46% and a net margin of 18.37%. The business had revenue of $324.90 million for the quarter, compared to analyst estimates of $324.66 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. equities analysts forecast that Apple Hospitality REIT will post 1.74 EPS for the current year.
In other Apple Hospitality REIT news, insider Glade M. Knight purchased 5,000 shares of the stock in a transaction on Friday, November 10th. The stock was bought at an average cost of $19.18 per share, for a total transaction of $95,900.00. Following the completion of the acquisition, the insider now directly owns 10,046,357 shares of the company’s stock, valued at $192,689,127.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Apple Hospitality REIT stock. The Manufacturers Life Insurance Company grew its holdings in Apple Hospitality REIT Inc (NYSE:APLE) by 7.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,069 shares of the real estate investment trust’s stock after buying an additional 494 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Apple Hospitality REIT were worth $132,000 at the end of the most recent quarter. Institutional investors and hedge funds own 50.91% of the company’s stock.
Several equities analysts have recently issued reports on APLE shares. Canaccord Genuity reaffirmed a “hold” rating and set a $19.00 price target (down previously from $20.00) on shares of Apple Hospitality REIT in a research note on Friday, August 11th. BidaskClub upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Apple Hospitality REIT from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. Robert W. Baird set a $20.00 price objective on Apple Hospitality REIT and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, B. Riley reiterated a “neutral” rating on shares of Apple Hospitality REIT in a report on Wednesday, November 1st. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.67.
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Apple Hospitality REIT Company Profile
Apple Hospitality REIT, Inc is a hospitality real estate investment trust. The Company invests in real estate, primarily in the lodging sector, in the United States. As of October 23, 2017, the Company owned 238 hotels, with more than 30,000 guestrooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets across 34 states.
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