Monthly Dividend Stock | NYSE: APLE

Apple hospitality is a leading REIT with a wealth of industry knowledge and experience gained over 20 years in the Lodging Industry. They manage one of the largest and most diverse portfolios of hotels in the US. Their focus is on upscale rooms and their ethos is Integrity, Excellence and Accountability.

  • Market Capitalization: $3.563bn
  • Dividend Yield: 0.04% pa (October, 21)

The stock is listed on the New York Stock Exchange under the ticker APLE, and the company currently distributes a monthly dividend.

As of October, 2021, the company distributed a regular monthly dividend of $0.01 per share of common stock. With the stock price of around $15.79, this equates to an annual yield of circa. 0.25% p.a.

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Business Overview

At the time of writing, and despite the continued adverse impacts of Covid 19 which have made the market conditions highly uncertain, Apple hospitality have seen sequential improvement each month during the 2nd quarter of 2021.

By opportunistic disposition of hotels and accretive acquisitions of those with higher returns, Apple Hospitality maximise long term share holder value.  By doing this, they are able to reduce exposure to lower growth markets and grow their portfolio when the conditions are right.

As the global travel and tourism begins to recover post-covid, investors have their eye on this monthly dividend stock

Management

Glade M. Knight is the Executive Chairman at Apple Hospitality.  He has held this position since May 2014, previously he was the Chief Executive Officer of the company since its inception.  He is the founding chairman of Southern Virginia University in Buena Vista, founding member of Brigham Young University’s Entrepreneurial Department of the Graduate School of Business Management and has been on the Company’s Board of Directors since 2007.

Justin G. Knight is the Chief Executive Officer and Director.  He joined the Apple REIT companies in 2000 and has held various senior management roles within the Company since March 2014.  Mr Knight serves on the Marriott Owners Advisory Council, Residence Inn Association Board, American hotel and Lodging Association, National Advisory Council of the Marriott School at Brigham Young University and on the Board of Trustees for Venture Richmond.  He holds a Master’s in Business Administration with an emphasis on corporate strategy and Finance from the Marriott School at Brigham Young university, together with a Batchelor of Arts Degree, cum laude, in Political Science from Brigham Young University.

Nelson Knight is the President of Real Estate and Investments.  He joined Apple REIT in 2005 and has served in his current role since April 2020.  Mr Knight held various senior management positions within the Companies prior to this.  He serves on the Hilton’s Product Advisory Council, Hunter Hotels Investment Conference, along with The Board of Trustees for Southern Virginia University.  Mr Knight holds a Master of Business Administration Degree from Texas Christian University, and a Batchelor of Arts Degree, cum laude, in History with a minor in Business from Southern Virginia University.

Jeannette Clarke joined the Company in 2008 and has served as the Senior Vice President and Chief Capital Investments Officer since April 2020.  She has held various Senior management roles within Apple Hospitality since 2012.  Prior to her appointment Ms Clarke served at Genworth Financial and Circuit City Stores Inc. He currently serves on the local YMCA’s Board of Management and Development Committee.  Ms Clarke holds a Master’s in Business Administration from Virginia Commonwealth University and a Batchelor of Science Degree, cum laude, in Business Administration with concentration in Finance and economics from Longwood University.

K.C. Gallagher is the Senior Vice President and Chief Operating Officer and has held this position since April 2020.  She joined the Apple Hospitality Companies in 2003 and has held various senior management roles within the Company since 2005.  She previously served at Ernst and Young, LLP.  She currently serves as a member of the Hampton by Hilton Ownership Advisory Counsil, the Global Finance Committee for the lodging industry sponsored by Hospitality Financial and Technology Professionals and American Hotel & lodging Association.  Ms Gallagher holds a Master of Science Degree in Accounting and a Batchelor of Science Degree in Commerce from the McIntire School of Commerce at the University of Virginia and a second major in Economics from the School of Arts and Sciences at the University of Virginia.  She is also a Certified Public Accountant.

Rachel Labrecque is Senior Vice president and Chief Accounting Officer.  She joined Apple REIT Companies in 2015 and held various senior management positions within the Company until her current appointment in April 2020.  Previously she served at Bowlero Corp. , The Mills Corporation, AOL Time Warner and Arthur Andersen.  Ms Labrecque holds a Batchelor of Science degree in Accounting from the Virginia Tech Pamplin College of Business and is a Certified Public Accountant.

Liz Perkins is Senior Vice President and Chief Financial Officer and has held this role since April 2020.  She joined the Company in 2006 and has held various senior management positions. Previously she served at Ernst & Young, LLP.  Ms Perkins is currently serves on the Homewood Suites by Hilton Owners Advisory Council, the Residence Inn by Marriott System Marketing Fund, and the distribution advisory councils for Marriott and Hilton.  She is on the American Hotel and Lodging Association innovation, consumer innovation Forum Steering committee and Owners Committee.  Ms Perkins holds a Batchelor of Business Administration degree in Accounting from the J.M. Tull School of Accounting within the Terry College of Business at the University of Georgia.

Matthew Rash is Senior Vice President, Chief Legal Officer and Secretary of Apple REIT.  He joined the Company in 2019 and prior to this was serving at McGuireWoods LLP and was a law clerk at the United States District Court for the Eastern District of Virginia.  He currently serves on the Virginiaa Chamber of Commerce Board of Directors.  Mr Rash holds a Juris Doctor Degree from the University of Richmond and a Batchelor of Arts Degree in Government and Foreign Affairs from the University of Virginia.

Stock Price and Dividends

Apple Hospitality’s stock price fell 3.1% in the last 3 years.  Whilst Apple Hospitality shrunk its revenue over the last year by 27% the stock has returned a solid 57% in the last 12 months and earnings are forecast to grow 97.64% per year.

with a 52-week range of $9.56 to $16.59. Currently, the stock pays an annual yield of 0.25% p.a., with monthly dividend distributions

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