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 reports recurring developments tied to its U.S. lodging portfolio, including quarterly operating results, monthly common-share distributions, hotel operating metrics and portfolio activity. The company is a publicly traded REIT focused on upscale, rooms-focused hotels operated primarily under Marriott, Hilton and Hyatt brands, with income derived from hotel revenue.
News items also cover shareholder meeting matters, investor conference scheduling, hotel acquisitions, management-company recognition programs and updates on balance-sheet and REIT-related topics. Operating updates commonly reference measures such as RevPAR, occupancy, average daily rate, Adjusted EBITDAre and modified funds from operations.
Apple Hospitality REIT (NYSE: APLE) announced the winners of its 2023 Apple Awards, honoring top-performing management companies, hotels, and associates. Chartwell Hospitality was named the 2023 Management Company of the Year for its excellence. Dual Hyatt properties in Tempe, Arizona, received the Shining Apple Award for superior performance. Quarterly Shining Apple Awards went to various Hilton-branded properties. Five associates were also recognized for outstanding contributions to guest service and community impact. These awards are based on balanced scorecard metrics assessing financial and service performance.
Apple Hospitality REIT (NYSE: APLE) will report its Q2 2024 financial results on August 5, 2024, post-market close. A conference call will follow on August 6, 2024, at 10:00 a.m. Eastern Time. The call can be accessed via telephone or live webcast. A replay will be available from August 6 through August 20, 2024.
Apple Hospitality owns 224 upscale hotels with 29,900 rooms across 87 markets in 37 states and Washington, D.C. Their portfolio includes 101 Marriott-branded, 118 Hilton-branded, and 5 Hyatt-branded hotels. More information can be found on their website.
Apple Hospitality REIT (NYSE: APLE) has announced a monthly cash distribution of $0.08 per common share, payable on June 17, 2024, to shareholders of record as of May 31, 2024.
Based on the closing price of $14.61 per share on May 17, 2024, this represents an annualized distribution of $0.96 per common share, equating to a yield of approximately 6.6%.
Apple Hospitality owns 224 hotels with roughly 29,900 guest rooms across 87 markets in 37 states and the District of Columbia, featuring leading brands such as Marriott, Hilton, and Hyatt.
Apple Hospitality REIT, Inc. reported a strong first quarter, with a 64.2% increase in net income compared to the previous year. The Company achieved stable operating performance, with Comparable Hotels ADR, Occupancy, and RevPAR remaining flat. They also acquired a new hotel and have two more under contract for purchase. Financially, the Company increased Adjusted EBITDAre by 6% and MFFO by 5% compared to the first quarter of 2023. They entered into an equity distribution agreement and had monthly distributions totaling $0.29 per common share. The Company's total debt to total capitalization was approximately 27% at the end of the quarter.
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