15 Best Monthly Dividend Stocks To Buy Right Now

7. Apple Hospitality REIT, Inc. (NYSE:APLE)

Number of Hedge Fund Holders: 19

Apple Hospitality REIT, Inc. (NYSE:APLE) is an American real estate investment trust company, based in Virginia. The company mainly operates in hotel properties across the US. In December, BMO Capital began covering the stock with an Outperform rating and set a price target of $18. An analyst highlighted the company as the largest REIT specializing in select-service lodging, noting its well-diversified, high-quality portfolio. In a research note, the firm expressed a positive outlook, citing its defensive characteristics and potential to gain from rising revenue per available room (RevPAR).

During the third quarter of 2024, business travel demand continued to recover gradually, while leisure travel remained strong, supporting stable operating performance across the portfolio. Apple Hospitality REIT, Inc. (NYSE:APLE) ‘s Comparable Hotels saw a roughly 1% increase in RevPAR compared to the same period in 2023. Early estimates for October suggested occupancy levels near 80%, along with further growth in the average daily rate (ADR). The company reported $378.8 million in revenue for the quarter, reflecting a 5.75% increase year over year, while operating income rose 2% from the previous year to $77.7 million.

Apple Hospitality REIT, Inc. (NYSE:APLE) has also attracted investor interest due to its dividend payments. The company has consistently distributed dividends since 2008 and has a track record of providing additional payouts to shareholders. Currently, it issues a monthly dividend of $0.08 per share and has also declared a supplemental dividend of $0.05 per share. The stock has a dividend yield of 6.24%, as of January 29.

According to Insider Monkey’s database of Q3 2024, 19 hedge funds owned stakes in Apple Hospitality REIT, Inc. (NYSE:APLE), the same as in the previous quarter. These stakes are valued at over $98.4 million in total. Among these hedge funds, Balyasny Asset Management was the company’s leading stakeholder in Q3.