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) has declared a regular monthly cash distribution of $0.05 per common share for May 2022, payable on May 16, 2022. Shareholders of record as of May 3, 2022 will be eligible for this distribution. Based on the stock's closing price of $17.97 on April 20, 2022, this distribution results in an annual yield of approximately 3.3%. The company operates a diverse portfolio of 219 hotels across the U.S., with a total of more than 28,700 guest rooms.
Apple Hospitality REIT, Inc. (NYSE: APLE) will report its first quarter 2022 financial results on May 5, 2022, after market close. A conference call will follow on May 6, 2022, at 10:00 a.m. ET for discussion of results. Dial-in numbers are 877-407-9039 for U.S. participants and 201-689-8470 for international participants. A replay is available from 1:00 p.m. ET on May 6 to 11:59 p.m. ET on May 27. Apple Hospitality manages a portfolio of 219 hotels across 36 states.
Apple Hospitality REIT, Inc. (NYSE: APLE) announced a regular monthly cash distribution of $0.05 per common share for April 2022, payable on April 18, 2022. This distribution equates to an annual yield of approximately 3.3% based on a closing stock price of $18.29 as of March 17, 2022. Additionally, the Company's Annual Meeting of Shareholders is scheduled for May 13, 2022, open to shareholders of record as of March 18, 2022.
Apple Hospitality REIT (NYSE: APLE) reported a significant financial recovery for Q4 2021 and the full year. Net income rose to $13.2 million, compared to a loss of $51.2 million in Q4 2020. Adjusted EBITDAre surged by 353.1% to $73.4 million for the quarter, while MFFO reached $58.6 million. The company reinstated monthly distributions at $0.05 per share, signaling confidence in its recovery. As of December 31, 2021, occupancy was 67.5%, with RevPAR growing 94.5% year-over-year. Despite challenges from the Omicron variant, Apple Hospitality remains optimistic about future growth.
Apple Hospitality REIT, Inc. (NYSE: APLE) will report its fourth quarter and full year financial results on February 22, 2022, after market close. A conference call for investors is set for February 23, 2022, at 10:00 a.m. Eastern Time, accessible via phone or live webcast. The company owns 219 hotels across 36 states, featuring prominent brands like Marriott and Hilton. A replay of the call will be available post-event until March 16, 2022. Investors can find more information on their website.
Apple Hospitality REIT, Inc. (NYSE: APLE) has announced a quarterly cash distribution of $0.01 per common share for the fourth quarter of 2021. This distribution will be payable on January 18, 2022, to shareholders recorded as of December 31, 2021. Apple Hospitality operates a diverse portfolio of 219 hotels with over 28,700 guest rooms across the United States, focusing primarily on upscale accommodations under major brands such as Marriott and Hilton.
Apple Hospitality REIT, Inc. (NYSE: APLE) has acquired a portfolio of three hotels for $126 million. The acquisitions include the Hilton Garden Inn and Homewood Suites in Fort Worth, Texas, and the Hampton Inn & Suites in Portland, Oregon. The Fort Worth properties cost $29.5 million and $21.5 million, respectively, while the Portland hotel was acquired for $75 million. These transactions are expected to enhance Apple Hospitality's market presence and align with its ownership strategy while pursuing further portfolio optimization.
Apple Hospitality REIT (NYSE: APLE) reported strong third-quarter results for 2021, with a net income of $31.8 million compared to a loss of $40.9 million in 2020. The company achieved an Adjusted EBITDAre of $92.2 million, a 229.6% increase year-over-year. Occupancy rates improved to 71.5%, up 47.1% from the prior year, and the Average Daily Rate (ADR) rose 33.6% to $140.02. Additionally, the portfolio's RevPAR nearly doubled compared to 2020. The firm also successfully exited a covenant waiver period and completed multiple acquisitions and dispositions of hotels, enhancing its operational efficiency.
Apple Hospitality REIT, Inc. (NYSE: APLE) will report its Q3 2021 financial results on November 4, 2021, after market close. A conference call for discussion will take place on November 5, 2021, at 10:00 a.m. Eastern Time. Investors can access the call via phone or live webcast. A replay will be available from 1:00 p.m. Eastern Time on the same day until November 26, 2021. The company operates 215 hotels across 35 states, with a focus on Marriott and Hilton brands.
Apple Hospitality REIT, Inc. (NYSE: APLE) has declared a quarterly cash distribution of $0.01 per common share for Q3 2021. This distribution is to be paid on October 18, 2021, to shareholders of record as of September 30, 2021. The company operates a diverse portfolio of 215 upscale hotels across 35 states in the U.S., prominently featuring brands like Marriott and Hilton. While the announcement reflects ongoing commitment to shareholder returns, the potential impact of COVID-19 variants remains a critical risk factor for the company's future performance.
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