Apple Hospitality Reit Inc Stock Price, News & Analysis

Apple Hospitality REIT, Inc. (NYSE: APLE) announced a regular monthly cash distribution of $0.08 per common share, payable on May 15, 2023, to shareholders of record as of April 28, 2023. This annualized distribution of $0.96 per common share reflects an annual yield of approximately 6.0%, based on the stock's closing price of $16.01 on April 17, 2023. The company maintains a substantial portfolio consisting of 220 hotels and approximately 29,000 guest rooms across 37 states, primarily under Marriott and Hilton brands. The press release also mentions risks related to COVID-19's impact on the hospitality industry, including potential hotel closures and changes in travel patterns.

Apple Hospitality REIT, Inc. (NYSE: APLE) will report its first quarter 2023 financial results after market close on May 2, 2023, followed by a conference call on May 3, 2023, at 10:00 a.m. Eastern Time. The call will be accessible via telephone and live webcast. A replay will be available from 2:00 p.m. Eastern Time on May 3 until 11:59 p.m. Eastern Time on May 17. Apple Hospitality owns a diverse portfolio of 220 hotels across 37 states, primarily branded with Marriott and Hilton.

Apple Hospitality REIT, Inc. (NYSE: APLE) announced a monthly cash distribution of $0.08 per common share, payable on April 17, 2023, to shareholders of record as of March 31, 2023. With a closing stock price of $14.80 on March 17, 2023, this equates to an annualized yield of approximately 6.5%. The company’s portfolio includes 220 hotels across 37 states, comprising major brands like Marriott and Hilton. Forward-looking statements in the release caution uncertainties, especially regarding the ongoing impacts of COVID-19 and its effects on financial performance.

Apple Hospitality REIT has appointed Carolyn Handlon to its Board of Directors, effective March 1, 2023. Handlon, a former Executive Vice President at Marriott, brings over 35 years of experience in financial strategy and hotel management. This addition increases the diversity of the Board, which now includes three women among its nine members. Handlon will stand for election as a nominee during the 2023 Annual Meeting of Shareholders, set for May 18, 2023. The meeting will be open to shareholders of record as of March 20, 2023.

Apple Hospitality REIT, Inc. (NYSE: APLE) reported its Q4 and full year 2022 results, showcasing a notable 669.1% surge in net income for the year, reaching $144.8 million, despite an 82.5% decline in Q4 net income. Full year operating income rose 137.2% to $206.5 million. The Company achieved an impressive Adjusted EBITDA of $413.1 million, up 47.9%. Occupancy rates increased, with ADR up 20.7% year-over-year. Monthly distributions were reinstated, totaling $139.5 million for the year. Looking ahead, 2023 guidance projects net income of $165-$209 million and a Comparable Hotels RevPAR increase of 3.0%-7.0%. Overall, Apple Hospitality remains confident in its growth trajectory.