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Apple Hospitality REIT

NYSE:APLE
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
APLE
NYSE
$4B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 17 days ago. More info.


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APLE Share Price and Events
7 Day Returns
-1.2%
NYSE:APLE
-0.3%
US REITs
-2.1%
US Market
1 Year Returns
-15%
NYSE:APLE
13.8%
US REITs
1.3%
US Market
APLE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Apple Hospitality REIT (APLE) -1.2% -0.8% -3.5% -15% -12.1% -
US REITs -0.3% 2.4% 3.2% 13.8% 11.3% 25.6%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • APLE underperformed the REITs industry which returned 13.8% over the past year.
  • APLE underperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
APLE
Industry
5yr Volatility vs Market

Value

 Is Apple Hospitality REIT undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Apple Hospitality REIT to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Apple Hospitality REIT.

NYSE:APLE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:APLE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (43.68%))
0.807
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.807 * 5.96%)
7.54%

Discounted Cash Flow Calculation for NYSE:APLE using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Apple Hospitality REIT is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Apple Hospitality REIT is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:APLE DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.54%)
2019 316.79 Analyst x1 294.58
2020 310.65 Analyst x1 268.62
2021 322.72 Est @ 3.89% 259.49
2022 334.14 Est @ 3.54% 249.84
2023 345.16 Est @ 3.3% 239.98
2024 355.95 Est @ 3.13% 230.13
2025 366.65 Est @ 3.01% 220.43
2026 377.38 Est @ 2.92% 210.97
2027 388.19 Est @ 2.87% 201.80
2028 399.16 Est @ 2.83% 192.96
Present value of next 10 years cash flows $2,368.81
NYSE:APLE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $399.16 × (1 + 2.73%) ÷ (7.54% – 2.73%)
$8,525.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $8,525.80 ÷ (1 + 7.54%)10
$4,121.46
NYSE:APLE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,368.81 + $4,121.46
$6,490.28
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $6,490.28 / 223.87
$28.99
NYSE:APLE Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.99
Current discount Discount to share price of $16.21
= -1 x ($16.21 - $28.99) / $28.99
44.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Apple Hospitality REIT is available for.
Intrinsic value
44%
Share price is $16.21 vs Future cash flow value of $28.99
Current Discount Checks
For Apple Hospitality REIT to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Apple Hospitality REIT's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Apple Hospitality REIT's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Apple Hospitality REIT's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Apple Hospitality REIT's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:APLE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.89
NYSE:APLE Share Price ** NYSE (2019-05-24) in USD $16.21
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.62x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Apple Hospitality REIT.

NYSE:APLE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:APLE Share Price ÷ EPS (both in USD)

= 16.21 ÷ 0.89

18.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apple Hospitality REIT is good value based on earnings compared to the US REITs industry average.
  • Apple Hospitality REIT is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Apple Hospitality REIT's expected growth come at a high price?
Raw Data
NYSE:APLE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.39x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

NYSE:APLE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.29x ÷ -2%

-9.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apple Hospitality REIT earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Apple Hospitality REIT's assets?
Raw Data
NYSE:APLE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $15.04
NYSE:APLE Share Price * NYSE (2019-05-24) in USD $16.21
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:APLE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:APLE Share Price ÷ Book Value per Share (both in USD)

= 16.21 ÷ 15.04

1.08x

* Primary Listing of Apple Hospitality REIT.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Apple Hospitality REIT is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Apple Hospitality REIT's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Apple Hospitality REIT has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Apple Hospitality REIT expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Apple Hospitality REIT expected to grow at an attractive rate?
  • Apple Hospitality REIT's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Apple Hospitality REIT's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Apple Hospitality REIT's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:APLE Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:APLE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -2%
NYSE:APLE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 0.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:APLE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:APLE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,284 191 1
2020-12-31 1,279 373 180 4
2019-12-31 1,269 369 185 4
NYSE:APLE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,276 408 202
2018-12-31 1,271 405 206
2018-09-30 1,264 402 170
2018-06-30 1,257 396 170
2018-03-31 1,244 401 190
2017-12-31 1,239 384 182
2017-09-30 1,232 374 226
2017-06-30 1,184 350 177
2017-03-31 1,109 317 144
2016-12-31 1,041 331 145
2016-09-30 972 314 85
2016-06-30 936 301 119

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Apple Hospitality REIT's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Apple Hospitality REIT's revenue is expected to grow by 0.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:APLE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Apple Hospitality REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:APLE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 0.84 0.84 0.84 1.00
2019-12-31 0.85 0.85 0.85 1.00
NYSE:APLE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.89
2018-12-31 0.90
2018-09-30 0.74
2018-06-30 0.75
2018-03-31 0.84
2017-12-31 0.82
2017-09-30 1.01
2017-06-30 0.82
2017-03-31 0.71
2016-12-31 0.76
2016-09-30 0.48
2016-06-30 0.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Apple Hospitality REIT will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Apple Hospitality REIT's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Apple Hospitality REIT has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Apple Hospitality REIT performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Apple Hospitality REIT's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Apple Hospitality REIT has delivered over 20% year on year earnings growth in the past 5 years.
  • Apple Hospitality REIT's 1-year earnings growth is less than its 5-year average (6.2% vs 30.6%)
  • Apple Hospitality REIT's earnings growth has not exceeded the US REITs industry average in the past year (6.2% vs 16%).
Earnings and Revenue History
Apple Hospitality REIT's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Apple Hospitality REIT Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:APLE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,275.95 202.06 133.25
2018-12-31 1,270.56 206.09 130.13
2018-09-30 1,264.37 169.63 130.83
2018-06-30 1,257.10 170.33 131.03
2018-03-31 1,244.09 190.31 128.56
2017-12-31 1,238.62 182.49 127.22
2017-09-30 1,231.99 226.35 122.06
2017-06-30 1,183.53 177.22 115.18
2017-03-31 1,109.46 144.33 107.71
2016-12-31 1,041.03 144.65 99.70
2016-09-30 971.63 85.31 94.39
2016-06-30 935.71 118.58 94.14
2016-03-31 912.45 108.11 90.76
2015-12-31 898.31 117.29 90.56
2015-09-30 887.60 157.41 90.72
2015-06-30 878.93 145.61 91.09
2015-03-31 877.13 145.16 94.41
2014-12-31 803.90 6.83 85.47
2014-09-30 692.35 7.81 72.61
2014-06-30 560.71 -9.19 58.59
2014-03-31 432.71 -29.45 44.12
2013-12-31 387.99 81.92 40.32
2013-09-30 383.94 71.74 39.76
2013-06-30 377.36 71.50 38.58
2013-03-31 369.90 69.00 37.99
2012-12-31 365.59 68.68 38.15
2012-09-30 357.26 64.16 38.49
2012-06-30 349.27 61.87 38.47

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Apple Hospitality REIT has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Apple Hospitality REIT used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Apple Hospitality REIT's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Apple Hospitality REIT's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Apple Hospitality REIT has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Apple Hospitality REIT's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Apple Hospitality REIT's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Apple Hospitality REIT is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Apple Hospitality REIT's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Apple Hospitality REIT's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Apple Hospitality REIT Company Filings, last reported 1 month ago.

NYSE:APLE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,367.03 1,585.15 7.96
2018-12-31 3,409.01 1,414.47 12.23
2018-09-30 3,552.46 1,320.00 19.47
2018-06-30 3,557.24 1,372.42 18.06
2018-03-31 3,556.47 1,327.46 16.07
2017-12-31 3,571.09 1,222.20 9.78
2017-09-30 3,503.95 1,305.48 5.22
2017-06-30 3,507.57 1,308.32 4.96
2017-03-31 3,487.85 1,402.84 6.13
2016-12-31 3,517.06 1,338.41 4.59
2016-09-30 3,536.40 1,359.17
2016-06-30 2,626.37 1,036.81 21.61
2016-03-31 2,629.51 1,029.95
2015-12-31 2,647.76 1,000.29
2015-09-30 2,714.52 970.69 0.11
2015-06-30 2,747.26 799.99
2015-03-31 2,984.97 607.52 46.91
2014-12-31 3,015.62 707.41
2014-09-30 3,057.76 697.38
2014-06-30 3,084.25 704.98 0.81
2014-03-31 3,104.86 704.43
2013-12-31 1,311.81 162.55 18.10
2013-09-30 1,292.99 185.64
2013-06-30 1,312.92 182.48
2013-03-31 1,326.37 172.42
2012-12-31 1,346.13 166.78 9.03
2012-09-30 1,369.05 169.53 19.51
2012-06-30 1,386.87 152.60 7.39
  • Apple Hospitality REIT's level of debt (47.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (22.7% vs 47.1% today).
  • Debt is well covered by operating cash flow (25.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.7x coverage).
X
Financial health checks
We assess Apple Hospitality REIT's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Apple Hospitality REIT has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Apple Hospitality REIT's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.4%
Current annual income from Apple Hospitality REIT dividends. Estimated to be 7.4% next year.
If you bought $2,000 of Apple Hospitality REIT shares you are expected to receive $148 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Apple Hospitality REIT's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Apple Hospitality REIT's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:APLE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:APLE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.20 1.00
2020-12-31 1.20 3.00
2019-12-31 1.20 3.00
NYSE:APLE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-21 1.200 7.382
2019-04-18 1.200 7.314
2019-02-21 1.200 7.290
2019-01-18 1.200 7.479
2018-12-20 1.200 8.102
2018-11-20 1.200 7.727
2018-10-19 1.200 7.468
2018-09-20 1.200 7.061
2018-08-21 1.200 6.812
2018-07-20 1.200 6.753
2018-06-20 1.200 6.606
2018-05-21 1.200 6.385
2018-04-19 1.200 6.597
2018-03-19 1.200 6.875
2018-02-20 1.200 6.907
2018-01-19 1.200 6.363
2017-12-21 1.200 6.125
2017-11-20 1.200 6.139
2017-10-19 1.200 6.293
2017-09-22 1.200 6.335
2017-08-23 1.200 6.549
2017-06-21 1.200 6.523
2017-05-19 1.200 6.311
2017-04-20 1.200 6.359
2017-02-21 1.200 6.274
2017-01-20 1.200 5.938
2016-12-20 1.200 5.994
2016-11-21 1.200 6.282
2016-10-20 1.200 6.724
2016-09-20 1.200 6.502
2016-08-19 1.200 6.318
2016-07-20 1.200 5.978
2016-06-21 1.200 6.277
2016-05-19 1.200 6.534
2016-04-21 1.200 6.356
2016-03-21 1.200 6.224
2016-02-19 1.200 6.095
2016-01-22 1.200 6.431
2015-12-21 1.200 6.229
2015-11-20 1.200 6.091
2015-10-20 1.200 6.072
2015-09-18 1.200 6.369
2015-08-20 1.200 6.617
2015-07-20 1.200 6.669
2015-06-12 1.200 6.364

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Apple Hospitality REIT has been paying a dividend for less than 10 years.
  • Apple Hospitality REIT has only been paying a dividend for 4 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Apple Hospitality REIT's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (314.5x coverage).
X
Income/ dividend checks
We assess Apple Hospitality REIT's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Apple Hospitality REIT afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Apple Hospitality REIT has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Apple Hospitality REIT's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Justin Knight
COMPENSATION $3,081,399
AGE 45
TENURE AS CEO 5 years
CEO Bio

Mr. Justin G. Knight serves as the President of Apple REIT Ten, Inc., Apple Suites, Inc. and Apple Nine Hospitality Ownership, Inc. Mr. Knight serves as the Chief Operating Officer and Senior Vice President of Acquisitions at Apple REIT Nine, Inc. He has been the Chief Executive Officer at Apple Hospitality REIT, Inc. since May 15, 2014 and serves as its President. He served as President of Apple REIT Seven, Inc. and Apple REIT Eight, Inc. until the mergers were completed in March 2014. He also served as President of Apple Hospitality Two, Inc. until it was sold to an affiliate of ING Clarion in May 2007, as President of Apple Hospitality Five, Inc. until it was sold to Inland American Real Estate Trust, Inc. in October 2007 and as President of Apple REIT Six, Inc. until it merged with an affiliate of Blackstone Real Estate Partners VII in May 2013. He has been a Director at Apple Hospitality REIT, Inc. since 2015. Mr. Knight joined the Apple REIT companies in 2000. He currently serves on the Board of Trustees for Southern Virginia University in Buena Vista, Virginia. Mr. Knight serves on the Marriott Owners Advisory Council, the Residence Inn Association Board, the American Hotel and Lodging Association Board of Directors and is the Co-chair of the American Hotel and Lodging Association Owners Council. He is also member of the national advisory council for the Marriott School. Mr. Knight is a board member for the Valentine Museum, Venture Richmond and St. Michael’s Episcopal School. He holds a Master of Business Administration degree with an emphasis in Corporate Strategy and Finance from the Marriott School at Brigham Young University, Provo, Utah. Mr. Knight also holds a Bachelor of Arts degree, Cum Laude, in Political Science from Brigham Young University, Provo, Utah.

CEO Compensation
  • Justin's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Justin's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Apple Hospitality REIT management team in years:

7
Average Tenure
49
Average Age
  • The average tenure for the Apple Hospitality REIT management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Glade Knight

TITLE
Executive Chairman
COMPENSATION
$891K
AGE
74

Justin Knight

TITLE
President
COMPENSATION
$3M
AGE
45
TENURE
5 yrs

Bryan Peery

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
53
TENURE
11.5 yrs

Krissy Gathright

TITLE
Executive VP
COMPENSATION
$2M
AGE
45
TENURE
10.3 yrs

Nelson Knight

TITLE
Executive VP & Chief Investment Officer
COMPENSATION
$1M
AGE
36
TENURE
5 yrs

Kelly Clarke

TITLE
Vice President of Investor Relations
TENURE
8.9 yrs

Matthew Rash

TITLE
Secretary

David McKenney

TITLE
Senior Advisor
COMPENSATION
$527K
AGE
55
TENURE
4.9 yrs
Board of Directors Tenure

Average tenure and age of the Apple Hospitality REIT board of directors in years:

4.3
Average Tenure
62
Average Age
  • The tenure for the Apple Hospitality REIT board of directors is about average.
Board of Directors

Justin Knight

TITLE
President
COMPENSATION
$3M
AGE
45
TENURE
4.3 yrs

Krissy Gathright

TITLE
Executive VP
COMPENSATION
$2M
AGE
45
TENURE
0.2 yrs

Bruce Matson

TITLE
Director
COMPENSATION
$170K
AGE
60
TENURE
11.1 yrs

Glade Knight

TITLE
Executive Chairman
COMPENSATION
$891K
AGE
74
TENURE
11.3 yrs

L. Redd

TITLE
Director
COMPENSATION
$178K
AGE
60
TENURE
4.3 yrs

Glenn Bunting

TITLE
Director
COMPENSATION
$169K
AGE
73
TENURE
5.2 yrs

Jon Fosheim

TITLE
Lead Independent Director
COMPENSATION
$170K
AGE
68
TENURE
2.3 yrs

Daryl Nickel

TITLE
Director
COMPENSATION
$161K
AGE
73
TENURE
4.3 yrs

Blythe McGarvie

TITLE
Director
COMPENSATION
$133K
AGE
62
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Apple Hospitality REIT insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
20. May 19 Buy Glade Knight Individual 17. May 19 17. May 19 5,000 $16.42 $82,085
11. Mar 19 Buy L. Redd Individual 07. Mar 19 07. Mar 19 1,000 $16.38 $16,380
04. Mar 19 Buy Glade Knight Individual 01. Mar 19 01. Mar 19 5,000 $16.54 $82,700
04. Mar 19 Buy Daryl Nickel Individual 01. Mar 19 01. Mar 19 24,000 $16.44 $394,596
10. Dec 18 Buy Bryan Peery Individual 06. Dec 18 06. Dec 18 5,000 $15.50 $77,500
19. Nov 18 Buy L. Redd Individual 15. Nov 18 16. Nov 18 2,000 $15.68 $31,295
16. Nov 18 Buy Justin Knight Individual 14. Nov 18 14. Nov 18 5,000 $15.92 $79,612
16. Nov 18 Buy Nelson Knight Individual 15. Nov 18 15. Nov 18 300 $15.71 $4,713
16. Nov 18 Buy Glade Knight Individual 15. Nov 18 15. Nov 18 5,000 $15.71 $78,525
15. Nov 18 Buy David Buckley Individual 14. Nov 18 14. Nov 18 624 $15.96 $9,956
15. Nov 18 Buy L. Redd Individual 13. Nov 18 14. Nov 18 4,000 $15.97 $63,847
13. Nov 18 Buy L. Redd Individual 09. Nov 18 12. Nov 18 3,000 $16.24 $48,548
13. Nov 18 Buy Glade Knight Individual 12. Nov 18 12. Nov 18 5,000 $16.22 $81,077
24. Aug 18 Buy Justin Knight Individual 23. Aug 18 23. Aug 18 6,000 $17.65 $105,878
21. Aug 18 Buy Glade Knight Individual 20. Aug 18 20. Aug 18 10,000 $17.63 $176,300
14. Aug 18 Buy David Buckley Individual 14. Aug 18 14. Aug 18 1 $17.45 $17
14. Aug 18 Buy L. Redd Individual 13. Aug 18 13. Aug 18 1,000 $17.15 $17,150
14. Aug 18 Buy Blythe McGarvie Individual 13. Aug 18 13. Aug 18 11,500 $17.32 $199,148
13. Aug 18 Buy David Buckley Individual 10. Aug 18 10. Aug 18 1,156 $17.29 $19,984
13. Aug 18 Buy Glade Knight Individual 10. Aug 18 10. Aug 18 5,000 $17.33 $86,636
14. Jun 18 Buy David Buckley Individual 13. Jun 18 13. Jun 18 532 $18.75 $9,975
X
Management checks
We assess Apple Hospitality REIT's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Apple Hospitality REIT has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Apple Hospitality REIT, Inc. (NYSE:APLE): An Investing Strategy To Help You Win

This is the best time to buy stocks like Apple Hospitality REIT, Inc. … See our latest analysis for Apple Hospitality REIT Apple Hospitality REIT, Inc. … This continuous market outperformance demonstrates a strong track record of delivering robust returns over many years, raising my confidence in Apple Hospitality REIT as a long-term hold.

Simply Wall St -

What You Must Know About Apple Hospitality REIT, Inc.'s (NYSE:APLE) Beta Value

Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Is Apple Hospitality REIT, Inc. (NYSE:APLE) A Smart Choice For Dividend Investors?

Is Apple Hospitality REIT, Inc. … In this case, Apple Hospitality REIT likely looks attractive to dividend investors, given its 7.3% dividend yield and four-year payment history. … There are a few simple ways to reduce the risks of buying Apple Hospitality REIT for its dividend, and we'll go through these below.

Simply Wall St -

Why Apple Hospitality REIT, Inc. (NYSE:APLE) Is An Attractive Investment To Consider

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … that has been a rockstar for income investors, currently trading at an attractive share price

Simply Wall St -

Is Apple Hospitality REIT, Inc. (NYSE:APLE) A Healthy REIT?

Apple Hospitality REIT, Inc. … real estate investment trust (REIT) based in Richmond, United States. … View our latest analysis for Apple Hospitality REIT.

Simply Wall St -

Did Apple Hospitality REIT, Inc. (NYSE:APLE) Insiders Buy Up More Shares?

We often see insiders buying up shares in companies that perform well over the long term. … The Last 12 Months Of Insider Transactions At Apple Hospitality REIT. … Overall, Apple Hospitality REIT insiders were net buyers last year

Simply Wall St -

What Apple Hospitality REIT, Inc.'s (NYSE:APLE) ROE Can Tell Us

To keep the lesson grounded in practicality, we'll use ROE to better understand Apple Hospitality REIT, Inc. … Over the last twelve months Apple Hospitality REIT has recorded a ROE of 6.0%. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.060 in profit.

Simply Wall St -

What Should Investors Know About Apple Hospitality REIT, Inc.'s (NYSE:APLE) Growth?

In December 2018, Apple Hospitality REIT, Inc. … (NYSE:APLE) announced its most recent earnings update, whicha

Simply Wall St -

Should You Investigate Apple Hospitality REIT, Inc. (NYSE:APLE) At US$16.79?

(NYSE:APLE), which is in the reits business, and is based in United States,. … As a well-established company, which tends to be well-covered by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s take a look at Apple Hospitality REIT’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

What Kind Of Investor Owns Most Of Apple Hospitality REIT, Inc. (NYSE:APLE)?

The big shareholder groups in Apple Hospitality REIT, Inc. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Apple Hospitality REIT is a pretty big company.

Simply Wall St -

Company Info

Description

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 234 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states. Franchised with industry-leading brands, the Company’s portfolio comprises 108 Marriott-branded hotels, 125 Hilton-branded hotels and one Hyatt-branded hotel.

Details
Name: Apple Hospitality REIT, Inc.
APLE
Exchange: NYSE
Founded: 2007
$3,628,867,049
223,865,950
Website: http://www.applehospitalityreit.com
Address: Apple Hospitality REIT, Inc.
814 East Main Street,
Richmond,
Virginia, 23219,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE APLE Common Shares New York Stock Exchange US USD 19. May 2015
Number of employees
Current staff
Staff numbers
62
Apple Hospitality REIT employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:20
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/18
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.