EX-Dividend Schedule: Apple Hospitality REIT Has a Dividend Yield of 6.68%; Will Trade Ex-Dividend on May 01, 2018
LONDON, UK / ACCESSWIRE / April 30, 2018 / Active-Investors has a free review on Apple Hospitality REIT, Inc. (NYSE: APLE) following the Company's announcement that it will begin trading ex-dividend on May 01, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on April 30, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on APLE:
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Dividend Declared
On April 19, 2018, Apple Hospitality announced that its Board of Directors declared a regular monthly cash distribution of $0.10 per common share for the month of May 2018. The distribution is payable on May 15, 2018, to shareholders of record as of May 02, 2018.
Apple Hospitality's indicated dividend represents a yield of 6.68%, which is more than double compared to the average dividend yield of 3.30% for the Financial sector.
Dividend Insights
Apple Hospitality has a dividend payout ratio of 68.6%, which indicates that the Company spends approximately $0.69 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Apple Hospitality is forecasted to report earnings of $0.99 for the upcoming year compared to the Company's annualized dividend of $1.20 per share. One of the primary reasons for the difference between earnings and annualized dividend is that Apple Hospitality is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization (D&A) to earnings and subtracting any gains on sales which then provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, for the three months ended December 31, Apple Hospitality reported net loss of $2.30, or $0.01 per share, compared to net income of $41.6 million, or $0.19 per share, for Q4 2016.
On the other hand, Apple Hospitality's modified FFO of $80.96 million, or $0.36 per share, for Q4 2017 compared to $83.22 million, or $0.37 per share, for Q4 2016. The FFO number indicates that the Company should be able to comfortably cover its dividend payout.
Upcoming Earnings
On April 03, 2018, Apple Hospitality announced that it plans to report first quarter 2018 financial results after the market closes on May 07, 2018 and host a conference call for investors and interested parties on Tuesday, May 08, 2018, at 9:00 a.m. Eastern Time, to discuss the results.
About Apple Hospitality
Apple Hospitality is a publicly traded REIT that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company's highly diversified portfolio consists of 241 hotels with more than 30,500 guest rooms located in 88 markets throughout 34 states. The Company's hotels are franchised with industry-leading brands, and Apple Hospitality's portfolio includes 117 Marriott®-branded hotels and 124 Hilton®-branded hotels.
Stock Performance Snapshot
April 27, 2018 - At Friday's closing bell, Apple Hospitality's stock was slightly up 0.39%, ending the trading session at $18.05.
Volume traded for the day: 1.14 million shares.
Stock performance in the last month – up 3.86%
After last Friday's close, Apple Hospitality's market cap was at $4.14 billion.
Price to Earnings (P/E) ratio was at 22.07.
The stock has a dividend yield of 6.65%.
The stock is part of the Financial sector, categorized under the REIT - Hotel/Motel industry. This sector was up 0.3% at the end of the session.
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