Apple Hospitality Reit Inc Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

Apple Hospitality REIT has enhanced its disclosures on environmental, social, and governance (ESG) commitments. CEO Justin Knight emphasized the company's dedication to minimizing environmental impact and promoting racial and gender equality. The new disclosures aim to provide stakeholders with detailed insights into Apple Hospitality's ESG initiatives, available on its corporate responsibility webpage. The company plans to continue improving these disclosures over time. With a portfolio of 235 hotels across 34 states, Apple Hospitality is focused on sustainability while balancing its business goals.

Apple Hospitality REIT (NYSE: APLE) has been awarded the 2019 Hilton Legacy Award as a Top Performer for its Hilton Garden Inn brand, marking its excellence among nearly 60 top owners and developers in the Americas. With 41 Hilton Garden Inn hotels, Apple Hospitality's commitment to quality service and guest experience was highlighted by Hilton's recognition. The Legacy Awards reflect the company's dedication to brand standards and community impact. The company operates a diverse portfolio of 235 hotels across the U.S., primarily under renowned brands like Marriott and Hilton.

Apple Hospitality REIT, Inc. (NYSE: APLE) will report its third quarter 2020 financial results post-market close on November 5, 2020. A conference call to discuss the results is scheduled for November 6, 2020, at 10:00 a.m. ET. Participants can access the call via telephone or live webcast through the Company's website. A replay will be available from 1:00 p.m. ET on November 6 until November 27, 2020. Apple Hospitality operates a diverse portfolio of 235 upscale hotels across 34 states, featuring leading brands like Marriott and Hilton.