Welcome to our dedicated page for Apple Hospitality REIT news (Ticker: APLE), a resource for investors and traders seeking the latest updates and insights on Apple Hospitality REIT stock.
Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns and manages one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. The company's portfolio consists of 224 hotels with approximately 29,900 guest rooms situated across 87 markets in 37 states and the District of Columbia. Apple Hospitality's portfolio is heavily concentrated with industry-leading brands, including 101 Marriott-branded hotels, 118 Hilton-branded hotels, and five Hyatt-branded hotels.
The company operates through wholly-owned taxable REIT subsidiaries, which lease all of its hotels from wholly-owned qualified REIT subsidiaries. The properties are managed under separate agreements with various hotel management companies that are unaffiliated with Apple Hospitality. This strategic setup allows the company to generate income primarily from hotel revenue, its sole segment.
Apple Hospitality has demonstrated strong financial performance, achieving significant operating income and maintaining a robust balance sheet. Recent strategic moves include the acquisition of the AC Hotel by Marriott Washington DC Convention Center for approximately $116.8 million and the sale of two hotels in Rogers, Arkansas, for a combined gross sales price of approximately $33.5 million. The company continues to reinvest in its properties, with plans to spend between $75 million and $85 million on capital improvements in 2024.
Apple Hospitality's commitment to providing value to its shareholders is evident in its regular monthly cash distributions. The company's Board of Directors recently declared a monthly distribution of $0.08 per common share, representing an annualized yield of approximately 6.6% based on the current stock price.
The company also maintains a strong focus on sustainability, with initiatives such as the LEED-certified AC Hotel Washington DC Convention Center, which features a green roof system. Apple Hospitality is well-positioned for future growth with a strategic focus on expanding its portfolio through acquisitions in high-demand markets and maintaining financial flexibility.
Apple Hospitality REIT, Inc. (NYSE: APLE) will report its third quarter 2022 financial results after market close on November 7, 2022. A conference call is scheduled for November 8, 2022, at 10:00 a.m. ET to discuss these results. Investors can access the call via telephone or through a live webcast on the company's website. A replay will be available shortly after the call until November 29, 2022. The company operates a diverse portfolio of 218 hotels across 36 states, primarily branded by Marriott and Hilton.
Apple Hospitality REIT (NYSE: APLE) announced an increase in its monthly cash distributions from $0.05 to $0.07 per common share, effective September 2022. The monthly cash distribution will be payable on September 15, 2022, to shareholders of record as of September 2, 2022. This new annualized distribution of $0.84 per share reflects an approximate annual yield of 4.9%. CEO Justin Knight highlighted the strong performance exceeding expectations and the strategic focus on maximizing shareholder value, positioning the company for growth despite ongoing uncertainties in the hospitality sector.
Apple Hospitality REIT (NYSE: APLE) reported impressive second-quarter results for 2022, with net income rising to $65.3 million, a 222.2% increase year-over-year. Adjusted EBITDAre also surged by 46.1% to $126.2 million. Earnings per share reached $0.29, reflecting strong operational performance driven by robust leisure demand and improving business travel. The company maintained high occupancy rates of 77.9% and achieved a record Average Daily Rate (ADR) of $153.35. Additionally, Apple Hospitality enhanced its financial flexibility by amending its credit facility, increasing borrowing capacity to $1.2 billion.
Apple Hospitality REIT, Inc. (NYSE: APLE) announced the successful refinancing of its primary unsecured credit facility, increasing the total facility from $850 million to approximately $1.2 billion. This move extends the maturity schedule and enhances pricing terms, providing greater liquidity for growth. The facility includes term loans and a revolving credit option, with a potential increase to $1.5 billion. CFO Liz Perkins emphasized that this positions the company well for shareholder value enhancement despite macroeconomic uncertainties.
Apple Hospitality REIT, Inc. (NYSE: APLE) has declared a cash distribution of $0.05 per common share for August 2022, payable on August 15, 2022. Shareholders on record by August 2, 2022 will receive this payment. Based on the stock's closing price of $16.02 on July 19, 2022, this distribution translates to an annual yield of approximately 3.7%. Apple Hospitality operates 219 hotels across 36 states, featuring well-known brands like Marriott and Hilton.
Apple Hospitality REIT (NYSE: APLE) has declared a monthly cash distribution of $0.05 per common share for July 2022, payable on July 15, 2022, to shareholders of record as of July 5, 2022. This annualizes to $0.60 per share, representing an approximate 4.1% yield based on the stock's closing price of $14.71 on June 17, 2022. The company owns 219 hotels across the U.S., primarily under Marriott and Hilton brands, indicating a solid presence in the hospitality sector.
Apple Hospitality REIT, Inc. (NYSE: APLE) announced the recipients of its 2021 Apple Awards, recognizing exemplary hotel associates for their contributions during a challenging year amid the COVID-19 pandemic. CEO Justin Knight expressed gratitude towards the hotel teams for their dedication to guest service. Five award winners were honored for their exceptional hospitality and service, showcasing their commitment to guest satisfaction and community involvement. Apple Hospitality's portfolio includes 219 hotels across 36 states, emphasizing its strong presence in the upscale hotel market.
Apple Hospitality REIT, Inc. (NYSE: APLE) plans to report its second quarter 2022 financial results after the market closes on August 4, 2022, with a conference call for investors at 10:00 a.m. Eastern Time on August 5, 2022. Participants can access the call via phone or online. A replay will be available from 1:00 p.m. Eastern Time on August 5 until 11:59 p.m. Eastern Time on August 26, 2022. Apple Hospitality operates a diverse portfolio of 219 upscale hotels across 36 states, focusing primarily on Marriott and Hilton brands.
Apple Hospitality REIT, Inc. (NYSE: APLE) has declared a monthly cash distribution of $0.05 per common share for June 2022, payable on June 15, 2022, to shareholders of record as of June 2, 2022. With a closing stock price of $16.38 on May 18, 2022, this results in an annual yield of approximately 3.7%. The company operates a diverse portfolio of 219 hotels across 36 states, focusing on upscale brands like Marriott and Hilton.
Apple Hospitality REIT, Inc. (NYSE: APLE) reported a strong performance for Q1 2022, with net income of $18 million compared to a loss of $46 million in Q1 2021. Adjusted EBITDAre surged by 186.7%, reaching $78 million. The Average Daily Rate (ADR) improved by 38.1% to $137.03, and occupancy increased to 67.1% from 55.5%. The company reinstated monthly distributions of $0.06 per share and anticipates strong demand recovery. However, challenges include potential project delays and increased costs due to inflation. Overall, the company maintains a solid balance sheet with a total debt to capitalization of 26%.
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