On September 20, the company Apple Hospitality REIT, Inc. (NYSE: APLE-Get Rating) announced that it would commence paying a monthly dividend to its shareholders. On Monday, October 17, the real estate investment trust will distribute a dividend to its shareholders of $0.07 per share to those shareholders who were shareholders of record on Tuesday, October 4. The dividend will be paid out to those shareholders on Monday, October 17. This results in a yield of 5.34% as well as a dividend payout of $0.84 yearly for the shareholders. On Monday, October 3, the day that will no longer count toward the dividend amount, will be removed. The dividend paid out by Apple Hospitality REIT has been increasing every year for the past three years, after decreasing for the previous three years at an annual rate that averaged 67.8 percent.
This comes after it decreased at an annual rate of 67.8 percent for the previous three years. Due to the extremely high dividend payment ratio that Apple Hospitality REIT keeps, the company cannot cover its dividend with just its income alone. This ratio currently sits at 646.2%. As a consequence of this, the corporation can only rely on its balance sheet at the moment to accomplish this. Suppose Apple Hospitality REIT’s earnings per share in the upcoming fiscal year come in at $1.75. In that case, industry experts believe the company will be able to maintain its expected payout ratio of 48.0% while still paying out its annual dividend of $0.84. The price of one share of NYSE APLE stock was $15.74 when trading began on Wednesday.
Over the past 52 weeks, the price of Apple Hospitality REIT has moved in a range that spans from a low of $14.29 to a high of $18.69. The debt-to-equity ratio, the quick ratio, and the current ratio all equal 0.46, and the quick ratio also equals 0.96. The current ratio also equals 0.46. The stock had a moving average price of $16.23 and $16.54 for the past fifty and two hundred days, respectively, making the former figure the higher of the two. The stock’s price-to-earnings ratio is 27.61, the price-to-growth ratio is 0.42, and the beta value is 1.10. The corporation’s shares are currently trading at a market value of $3.60 billion.
The Apple Hospitality REIT (NYSE: APLE-Get Rating) disseminated the findings of its most recent quarterly financial report on Thursday, August 4, making the announcement. Earnings per share (EPS) for the quarter were reported by the real estate investment trust (REIT) to be $0.29, which was $0.16 lower than the consensus forecast of $0.45 per share. Apple Hospitality REIT had a return on equity of 4.05% and a net margin of 11.40% for the company overall. The company reported a net income of $0.30 per share during the same period as the previous year. According to analysts who follow the stock market, Apple Hospitality REIT is expected to generate earnings of 1.52 cents per share during the current fiscal year.
Additionally, on August 9, Glade M. Knight, now serving as the chairman of Apple Hospitality REIT, purchased 5,000 shares of the company’s stock. The entire price paid for the deal, which broke down to $16.21 per share, brought the total amount spent on the acquisition up to $81,050.00. As a direct result of the purchase, the chairman now owns 493,093 shares of company stock, which may be approximated to have a current market value of $7,993,037.53. The announcement of the transaction was made through the use of a filing with the SEC, and the document in question may be located at the URL that was previously provided. 6.8% of the company’s total shares are owned by people who work for the company.
Recent months have seen several institutional investors make changes to the percentage of their holdings allotted to this stock. In the first three months of this year, Acadian Asset Management LLC paid out close to $25,000 to purchase a new share of Apple Hospitality REIT. During the second quarter of this year, Captrust Financial Advisors invested in Apple Hospitality REIT totaling $84,000. Apple Hospitality REIT received a gift totaling $99,000 from First Manhattan Company during the first three months of the year. Quantbot Technologies LP made a fresh investment of $112,000 in Apple Hospitality REIT during the second quarter of the fiscal year. During the first three months of this year, US Bancorp DE raised the amount of Apple Hospitality REIT in which it invested by 67.6%. US Bancorp DE now has a total of 7,542 shares of the real estate investment trust following the purchase of an additional 3,043 shares during the quarter.
Each share is valued at $137,000, $137,000, and $137,000, and each share is priced at $137,000. At the moment, institutional investors, including hedge funds, control 81.38 percent of the company’s shares. APLE has been the subject of discussion in a number of papers that have been authored by research analysts. In a report published on August 29, Wells Fargo & Firm raised their price target for Apple Hospitality REIT from $16.00 to $17.00 and upgraded the company from an “underweight” rating to an “equal weight” rating. The recommendation on the shares of Apple Hospitality REIT was lifted from a “c” rating to a “b-” rating in a research report that TheStreet gave on Thursday, August 11. The report was issued by Apple Hospitality REIT.
On Thursday, July 7, Barclays issued a research note indicating that it was decreasing its target price for shares of Apple Hospitality REIT from $21.00 to $19.00 while maintaining its “overweight” rating. The note also stated that it was retaining its “overweight” rating. In the end, B. Riley shifted its earlier rating of “neutral” for Apple Hospitality REIT to “buy” in a research note published on August 11. Three financial analysts have given the stock a “buy” rating, and two have advised the investor to keep their current position in the stock. According to MarketBeat.com, the stock market analysts have given the company a rating of “Moderate Buy,” They predict that the stock will reach an average price of $19.50.