Apple Hospitality REIT, Inc. (NYSE:APLE) Plans Monthly Dividend of $0.08

Apple Hospitality REIT, Inc. (NYSE:APLE) declared a monthly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Tuesday, April 30th will be paid a dividend of 0.08 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.96 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Monday, April 29th.

Apple Hospitality REIT has increased its dividend payment by an average of 47.4% annually over the last three years.

Apple Hospitality REIT Stock Performance

Shares of APLE traded up $0.21 on Friday, reaching $15.14. The company’s stock had a trading volume of 1,778,781 shares, compared to its average volume of 1,901,519. The stock’s 50 day simple moving average is $16.16 and its two-hundred day simple moving average is $16.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $3.67 billion, a P/E ratio of 19.35 and a beta of 1.08. Apple Hospitality REIT has a 12-month low of $14.22 and a 12-month high of $17.90.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APLE. StockNews.com downgraded shares of Apple Hospitality REIT from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Wells Fargo & Company lifted their price objective on Apple Hospitality REIT from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Friday, December 22nd. Finally, Bank of America downgraded shares of Apple Hospitality REIT from a “buy” rating to a “neutral” rating and lowered their price target for the company from $19.00 to $18.00 in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.40.

Institutional Investors Weigh In On Apple Hospitality REIT

Several institutional investors and hedge funds have recently modified their holdings of the stock. Profund Advisors LLC raised its position in shares of Apple Hospitality REIT by 5.9% during the fourth quarter. Profund Advisors LLC now owns 12,790 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 713 shares during the last quarter. Baird Financial Group Inc. increased its position in Apple Hospitality REIT by 0.8% in the fourth quarter. Baird Financial Group Inc. now owns 92,924 shares of the real estate investment trust’s stock worth $1,467,000 after purchasing an additional 739 shares during the last quarter. Lido Advisors LLC increased its position in Apple Hospitality REIT by 1.5% in the first quarter. Lido Advisors LLC now owns 52,034 shares of the real estate investment trust’s stock worth $935,000 after purchasing an additional 786 shares during the last quarter. LPL Financial LLC increased its position in Apple Hospitality REIT by 0.6% in the first quarter. LPL Financial LLC now owns 163,121 shares of the real estate investment trust’s stock worth $2,532,000 after purchasing an additional 1,028 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Apple Hospitality REIT by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 87,354 shares of the real estate investment trust’s stock worth $1,378,000 after purchasing an additional 1,273 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

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, 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.