Apple Hospitality REIT, Inc. (NYSE:APLE) announced a monthly dividend on Tuesday, November 21st, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend is Friday, December 1st.
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 $1.76 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 (APLE) traded up $0.14 during mid-day trading on Tuesday, reaching $19.50. 1,221,813 shares of the company traded hands, compared to its average volume of 1,033,200. Apple Hospitality REIT has a 1 year low of $17.49 and a 1 year high of $20.68. The stock has a market cap of $4,350.00 and a P/E ratio of 11.04. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.05 and a current ratio of 0.05.
Several analysts recently commented on the stock. Robert W. Baird set a $20.00 price target on shares of Apple Hospitality REIT and gave the company a “buy” rating in a research report on Sunday, October 29th. Zacks Investment Research downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. BidaskClub upgraded shares of Apple Hospitality REIT from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. B. Riley reiterated a “neutral” rating on shares of Apple Hospitality REIT in a research report on Wednesday, November 1st. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $19.00 price target (down previously from $20.00) on shares of Apple Hospitality REIT in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Apple Hospitality REIT currently has an average rating of “Hold” and a consensus target price of $19.67.
In other news, Director Redd Hugh acquired 5,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was bought at an average price of $17.83 per share, for a total transaction of $89,150.00. Following the transaction, the director now owns 61,495 shares in the company, valued at $1,096,455.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.30% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Apple Hospitality REIT stock. The Manufacturers Life Insurance Company grew its position in shares of Apple Hospitality REIT, Inc. (NYSE:APLE) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,069 shares of the real estate investment trust’s stock after buying an additional 494 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Apple Hospitality REIT were worth $132,000 as of its most recent filing with the SEC. 50.44% of the stock is currently owned by institutional investors and hedge funds.
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 September 13, 2017, the Company owned 237 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 33 states.
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