5 REIT Stocks that Pay Monthly Dividends

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

Number of Hedge Fund Holders: 22

Dividend Yield as of April 22: 3.33%

Apple Hospitality REIT, Inc. (NYSE:APLE) is a Virginia-based real estate investment trust that owns and operates a portfolio of upscale hotels in the United States. The REIT leases out properties to industry leading brands such as Marriott, Hyatt, and Hilton, among others. 

On April 21, Oppenheimer analyst Tyler Batory initiated coverage of Apple Hospitality REIT, Inc. (NYSE:APLE) with an Outperform rating and a $23 price target. The company is positioned well due to its high-quality and geographically diverse portfolio of select-service hotels, said the analyst. Apple Hospitality REIT, Inc. (NYSE:APLE) was the first lodging REIT to pay a meaningful dividend to shareholders and the analyst believes Apple Hospitality REIT, Inc. (NYSE:APLE) will buy significant net assets in 2022.

In 2021, Apple Hospitality REIT, Inc. (NYSE:APLE)’s full-year revenue equaled approximately $934 million, up from $602 million in 2020. Net income of $18.8 million in 2021 sharply rebounded from the net loss of $173.2 million in the prior year. 

Apple Hospitality REIT, Inc. (NYSE:APLE) on April 21 announced a $0.05 per share monthly dividend, which is payable on May 16, to shareholders of the company as of May 3. On April 22, Apple Hospitality REIT, Inc. (NYSE:APLE)’s dividend yield stood at 3.33%. 

Apple Hospitality REIT, Inc. (NYSE:APLE) was found in the public investment portfolios of 22 hedge funds at the end of December 2021, up from 15 funds in the prior quarter. Michael Weinstock’s Monarch Alternative Capital held the leading stake in the REIT, with 5.2 million shares worth $85.3 million.