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Apple Hospitality REIT, Inc. - APLE STOCK NEWS

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.

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Apple Hospitality REIT, Inc. (NYSE: APLE) has declared a quarterly cash distribution of $0.01 per common share for Q2 2021, payable on July 15, 2021, to shareholders of record as of June 30, 2021. The company is a leading publicly traded real estate investment trust with a diverse portfolio of 232 hotels comprising over 29,700 guest rooms across 35 states. It features a substantial presence of Marriott and Hilton brands, vital for its market positioning.

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Apple Hospitality REIT, Inc. (NYSE: APLE) plans to report its second quarter 2021 financial results following market closure on August 5, 2021. A conference call to discuss these results will be held at 10:00 a.m. ET on August 6, 2021. Participants can join via telephone or a live webcast from the Company’s Investor Information section. A replay will be available from 1:00 p.m. ET on August 6 to 11:59 p.m. ET on August 27, 2021. Apple Hospitality operates a diverse portfolio of 232 hotels across 35 states, featuring major brands such as Marriott and Hilton.

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Apple Hospitality REIT, Inc. (NYSE: APLE) announced the recipients of its 2020 Apple Awards, recognizing hotel associates for their outstanding contributions during a challenging year. CEO Justin Knight highlighted the dedication and adaptability of hotel teams in providing exceptional guest service amidst difficult circumstances. Award winners include Paula Gonzalez, Haiden Johnson, Tom Loughran, Guadalupe Olea, and Serenthia Pettway, who showcased leadership and commitment to guest satisfaction. Apple Hospitality operates 232 hotels across 35 states, focused on upscale and rooms-oriented properties.

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Apple Hospitality REIT (NYSE: APLE) reported a net loss of $46.4 million for Q1 2021, a significant decline from the loss of $2.8 million in Q1 2020. Adjusted EBITDAre dropped by 49.2% to $27.3 million. Average Daily Rate (ADR) decreased by 25.2%, and occupancy fell to 55.5%. Despite these challenges, the company noted improved occupancy rates and revenue per available room (RevPAR) in April, reaching approximately 68%. Apple Hospitality's total debt stood at $1.5 billion, with a notable focus on maintaining a robust balance sheet amid the ongoing pandemic.

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Apple Hospitality REIT, Inc. (NYSE: APLE) will report its first quarter 2021 financial results on May 6, 2021, after market close. The company will host a conference call on May 7, 2021, at 10:00 a.m. ET, available via phone and webcast. Participants can dial 877-407-9039 (U.S.) or 201-689-8470 (International). A replay will be accessible from 1:00 p.m. ET on the same day until May 28, 2021. Apple Hospitality owns 233 hotels across the U.S., featuring prominent brands such as Marriott and Hilton.

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Apple Hospitality REIT (NYSE: APLE) has declared a quarterly cash distribution of $0.01 per common share for Q1 2021. The payment will be made on April 15, 2021, to shareholders record as of March 31, 2021. The company has a portfolio of 233 hotels across 35 states, totaling over 29,800 guest rooms. Their hotels include 104 Marriott, 124 Hilton, 3 Hyatt, and 2 independent hotels, focusing on upscale rooms. The ongoing impacts of COVID-19 continue to pose uncertainties for the REIT's operations.

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Apple Hospitality REIT (NYSE: APLE) announced the appointment of Howard Woolley to its Board of Directors, effective March 1, 2021. Woolley's extensive background in public policy and regulatory affairs, particularly during his tenure at Verizon, aligns with the company’s focus on strategic growth. His addition raises the Board size from eight to nine members and enhances its diversity of perspectives. The company also declared the date for its 2021 Annual Meeting of Shareholders, scheduled for May 13, 2021, in Richmond, Virginia.

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Apple Hospitality REIT has amended its unsecured debt agreements, extending the waiver period for financial covenants through Q4 2021. Key changes include waiving most financial covenants until Q1 2022, allowing $300 million for acquiring unencumbered assets, and maintaining the unsecured status of its assets. The company reported a $425 million revolving credit line with approximately $161 million outstanding. CFO Liz Perkins emphasized the extension enhances flexibility without raising capital, positioning the company to maximize long-term shareholder value.

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Apple Hospitality REIT (APLE) reported significant financial challenges for Q4 and full year 2020 due to the COVID-19 pandemic, with a net loss of $173 million compared to a profit of $171 million in 2019. The company achieved Adjusted EBITDAre of $93 million, down 78.4% year-over-year. Occupancy dropped to 46.5% in Q4 from 72.9% in 2019, and Average Daily Rate (ADR) fell by 25.5%. Despite these challenges, all hotels remain open and cash flow positive, with enhanced cost management measures implemented. The company anticipates gradual recovery in 2021, focusing on domestic leisure travel.

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Apple Hospitality REIT, Inc. (NYSE: APLE) has announced plans to report its fourth quarter and full year 2020 financial results after the market closes on February 23, 2021. A conference call will follow on February 24, 2021, at 10:00 a.m. ET for investors to discuss these results. The call can be accessed via telephone or through a live webcast on the company's investor website. A replay will be available from the same day until March 17, 2021.

The company boasts a diverse portfolio of 234 upscale, rooms-focused hotels across 34 states.

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FAQ

What is the current stock price of Apple Hospitality REIT (APLE)?

The current stock price of Apple Hospitality REIT (APLE) is $15.5 as of November 15, 2024.

What is the market cap of Apple Hospitality REIT (APLE)?

The market cap of Apple Hospitality REIT (APLE) is approximately 3.7B.

What is Apple Hospitality REIT, Inc.?

Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust that owns and manages a large portfolio of upscale, rooms-focused hotels across the United States.

How many hotels does Apple Hospitality REIT own?

Apple Hospitality REIT owns 224 hotels with approximately 29,900 guest rooms located in 87 markets throughout 37 states and the District of Columbia.

What brands are included in Apple Hospitality's portfolio?

Apple Hospitality's portfolio includes 101 Marriott-branded hotels, 118 Hilton-branded hotels, and five Hyatt-branded hotels.

How does Apple Hospitality generate income?

Apple Hospitality generates income primarily from hotel revenue, with properties leased to wholly-owned taxable REIT subsidiaries and managed by unaffiliated hotel management companies.

What recent acquisitions has Apple Hospitality made?

Recently, Apple Hospitality acquired the AC Hotel by Marriott Washington DC Convention Center for approximately $116.8 million.

Does Apple Hospitality pay dividends?

Yes, Apple Hospitality pays regular monthly cash distributions. The most recent distribution was $0.08 per common share, representing an annual yield of approximately 6.6%.

What are the sustainability initiatives of Apple Hospitality?

Apple Hospitality focuses on sustainability, with initiatives such as the LEED-certified AC Hotel Washington DC Convention Center, which features a green roof system.

What is the financial strategy of Apple Hospitality?

Apple Hospitality's financial strategy includes maintaining a strong balance sheet, reinvesting in properties, and expanding the portfolio through strategic acquisitions.

How does Apple Hospitality manage its hotels?

Apple Hospitality's hotels are managed under agreements with various unaffiliated hotel management companies, leased by wholly-owned taxable REIT subsidiaries.

Where can I find more information about Apple Hospitality REIT?

For more information, please visit the company's website at www.applehospitalityreit.com.

Apple Hospitality REIT, Inc.

NYSE:APLE

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APLE Stock Data

3.73B
239.93M
6.71%
89.31%
4.16%
REIT - Hotel & Motel
Real Estate Investment Trusts
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United States of America
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