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 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.
Apple Hospitality REIT, Inc. (NYSE: APLE) has acquired the 157-room Aloft Hotel in downtown Portland, Maine, for $51.2 million, or approximately $326,000 per key. This strategic acquisition aims to enhance the company’s portfolio and increase its presence in the Portland market, which is known for strong leisure and corporate travel demand. The purchase elevates Apple Hospitality's portfolio to 215 hotels with about 28,100 guest rooms across 35 states. The company continues to seek further acquisition opportunities that align with its growth strategy.
Apple Hospitality REIT, Inc. (NYSE: APLE) announced the acquisition of the 130-room Hyatt Place in downtown Greenville, South Carolina, for approximately $30 million, or $231,000 per key. This acquisition enhances Apple Hospitality's portfolio, which now comprises 214 hotels with over 27,900 rooms across 35 states. The Hyatt Place, opened in December 2018, is strategically positioned near local attractions and businesses, with recent performance exceeding portfolio averages in occupancy (79%) and revenue per available room ($121) as of June 2021.
Apple Hospitality REIT, Inc. (NYSE: APLE) has acquired the 178-room AC Hotel by Marriott in Portland, Maine for approximately $66.8 million, equating to about $375,000 per key. This strategic purchase enhances Apple Hospitality's footprint in Portland, a market characterized by diverse demand drivers including leisure and corporate sectors. Following this acquisition, the company's portfolio will expand to 213 hotels with approximately 27,800 guest rooms across 35 states. The hotel reported strong performance metrics, including an 85% occupancy rate and RevPAR of $217 in June 2021.
Apple Hospitality REIT (NYSE: APLE) reported strong Q2 2021 results, with net income of $20,283,000, a 125.9% increase from Q2 2020. Adjusted EBITDAre was approximately $86 million, and Modified Funds from Operations (MFFO) reached $67.7 million, up 381.8%. The company achieved an occupancy rate of 70.7% and an Average Daily Rate (ADR) of $120.56. In July, APLE sold 20 hotels for about $211 million and is under contract for four additional hotels valued at $227 million, signaling a strategic shift to enhance portfolio quality.
FAQ
What is the current stock price of Apple Hospitality REIT (APLE)?
What is the market cap of Apple Hospitality REIT (APLE)?
What is Apple Hospitality REIT, Inc.?
How many hotels does Apple Hospitality REIT own?
What brands are included in Apple Hospitality's portfolio?
How does Apple Hospitality generate income?
What recent acquisitions has Apple Hospitality made?
Does Apple Hospitality pay dividends?
What are the sustainability initiatives of Apple Hospitality?
What is the financial strategy of Apple Hospitality?
How does Apple Hospitality manage its hotels?
Where can I find more information about Apple Hospitality REIT?
