Apple Hospitality REIT Announces Monthly Distribution
Apple Hospitality REIT (NYSE: APLE) announced a monthly cash distribution of $0.08 per common share, payable on July 15, 2024, to shareholders of record as of June 28, 2024.
The annualized distribution of $0.96 per share represents a 6.6% yield based on the closing price of $14.62 on June 17, 2024.
Apple Hospitality REIT owns 224 hotels across 87 markets in 37 states and the District of Columbia, including 101 Marriott-branded, 118 Hilton-branded, and five Hyatt-branded hotels.
- Monthly cash distribution of $0.08 per common share declared.
- Annualized distribution of $0.96 per share represents a 6.6% yield.
- Payout scheduled for July 15, 2024, benefiting shareholders of record as of June 28, 2024.
- Apple Hospitality REIT owns a diverse portfolio of 224 upscale hotels.
- Portfolio includes well-known brands such as Marriott, Hilton, and Hyatt.
- No mention of revenue or profit growth.
- Potential shareholder dilution as future distributions depend on consistent financial performance.
Apple Hospitality REIT's announced monthly cash distribution of
However, investors should also assess the sustainability of these returns. The Dividend Yield, while attractive, needs to be supported by the company's net operating income and cash flow. Given that Apple Hospitality has a diversified and upscale portfolio, primarily with Marriott, Hilton and Hyatt brands, it suggests stability and potential resilience against market volatility. Investors should monitor the performance of the hospitality industry post-pandemic, as any downturn could impact occupancy rates and, subsequently, distributions.
The announcement reinforces Apple Hospitality REIT's commitment to providing stable income to its shareholders, which is a hallmark of a strong REIT. The annual yield of
Moreover, the geographical diversification and association with leading hotel brands like Marriott, Hilton and Hyatt mitigate risks associated with regional market downturns or brand-specific issues. These partnerships can provide resilience and stability, essential for maintaining high occupancy and room rates, supporting steady revenue streams.
Based on the Company’s common stock closing price of
About Apple Hospitality REIT, Inc.
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
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are typically identified by use of statements that include phrases such as “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “target,” “goal,” “plan,” “should,” “will,” “predict,” “potential,” “outlook,” “strategy,” and similar expressions that convey the uncertainty of future events or outcomes. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, but are not limited to, the ability of the Company to effectively acquire and dispose of properties and redeploy proceeds; the anticipated timing and frequency of shareholder distributions; the ability of the Company to fund capital obligations; the ability of the Company to successfully integrate pending transactions and implement its operating strategy; changes in general political, economic and competitive conditions and specific market conditions (including the potential effects of inflation or a recessionary environment); reduced business and leisure travel due to geopolitical uncertainty, including terrorism and acts of war; travel-related health concerns, including widespread outbreaks of infectious or contagious diseases in the
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Apple Hospitality REIT, Inc.
Kelly
804‐727‐6321
kclarke@applereit.com
Source: Apple Hospitality REIT, Inc.
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