Apple Hospitality REIT, Inc. has announced it will issue a monthly dividend of $0.08 per share. This dividend is scheduled for distribution on March 16, 2024, to investors who are on record as of February 27, 2024. The decision reflects the company’s commitment to providing returns to its shareholders, with an annualized dividend yield of approximately 7.8%.
The ex-dividend date is set for February 27, meaning that investors must own shares before this date to qualify for the upcoming payment. Apple Hospitality REIT has seen a consistent dividend payment history, although it has maintained a steady annual decrease of 0.0% over the last three years. Currently, the company reports a payout ratio of 124.7%, indicating that it is currently relying on its balance sheet to fund dividend payments, as its earnings do not fully cover this obligation.
Analysts project that Apple Hospitality REIT will generate earnings of $1.62 per share in the coming year. This forecast suggests that the company will likely manage to cover its $0.96 annual dividend, with an expected future payout ratio of approximately 59.3%.
Stock Performance and Financial Overview
As of Wednesday, Apple Hospitality REIT shares opened at $12.37. The company maintains a market capitalization of $2.93 billion, with a price-to-earnings (P/E) ratio of 16.89. Its stock has exhibited a relatively stable beta of 0.84, indicating lower volatility compared to the broader market.
The firm’s financial indicators show a modest debt-to-equity ratio of 0.03, alongside quick and current ratios both sitting at 0.06. The stock has a 50-day moving average of $12.14 and a 200-day moving average of $12.05. Over the past year, its stock has fluctuated between a low of $10.44 and a high of $15.44.
About Apple Hospitality REIT
Apple Hospitality REIT is a publicly traded real estate investment trust (REIT) focused on the acquisition, ownership, and operation of high-quality, upscale, select-service hotels. The company’s portfolio primarily includes properties managed under premium franchise agreements with leading brands such as Marriott, Hilton, and Hyatt.
With over 200 hotels and more than 30,000 guest rooms in diverse markets across the United States, Apple Hospitality REIT is self-managed and internally advised. The firm oversees property management, revenue optimization, and asset-level operations through a dedicated in-house team of hospitality professionals.
For investors seeking insights, Apple Hospitality REIT offers a daily summary of news and analyst ratings, encouraging stakeholders to stay informed about the company and its market performance.
