The problem is that hotels have a lease length of one day, and all it takes to cancel a future hotel stay, with minimal to no financial impact to the customer, is a phone call. T. Rowe Price Investment Management, Inc. The Company makes use of its connections to gain vendor contracts and to expand franchising networks. Owning hotels is a tough business even in the good times, since the effective lease length of a room is a single day. 814 East Main Street Apple REIT Tens portfolio contains 55 Marriott- and Hilton-branded hotels. Their headquarters office is located at 814 East Main Street Richmond, Virginia, U.S.A. Apple Hospitality REIT, Inc. is a SEC-registered Virginia corporation that was founded in 2007. [3], In October 2012, David Lerner Associates agreed to settle with FINRA for $14 million without admitting or denying the charges. The Company highly capitalizes on the strong reservation systems, loyalty programs, award-winning customer service, innovative design, and modern amenities. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. Disclaimer. Apple Hospitality REIT, Inc. is a REIT that owns one of the largest portfolios of upscale, select service hotels in the U.S. Their real estate properties are spread out across 35 states in 84 U.S. markets. Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality's portfolio consists of 220 hotels with approximately 29,000 guest rooms located in 87 markets throughout 37 . To even out and make consistent distributions, they may use a revolving credit facility. We are pleased to have the opportunity to acquire this highly complementary portfolio of leading Hilton- and Marriott-branded select service hotels, while preserving our conservative capital structure, said Justin Knight, president and CEO of Apple Hospitality and the son of Glade Knight. Apple Hospitality REIT Inc APLE Stock Quote - Morningstar With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. David Lerner Associates - Wikipedia As of August 30, 2021, 547 hotel rooms are held for sale worth $159.8M while 837 rooms worth $227.7B were acquired. But despite the fluctuating performance, the Company has to make consistent distributions (more so in the pre-pandemic days). Many private equity groups or hotel REITs that would have likely previously bid on the platform appear to be out of the acquisition market, he said. Apple Hospitality REIT, Inc. is a self-advised real estate investment trust company, which invests in income-producing real estate, primarily in the lodging sector. The information on this site is not intended to be, nor does it constitute, investment advice or recommendations. 8047276321
In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the results or conditions described in such statements or the objectives and plans of the Company will be achieved. Today, the price is back up comparable to their 2019 market run. Any forward-looking statement that the Company makes speaks only as of the date of this press release. The pillar scores are Audit: 2; Board: 5; Shareholder Rights: 2; Compensation: 3. Apple Hospitality REIT Inc. Institutional investors purchased a net $512.9 thousand shares of APLE during the quarter ended June 2019. 814 East Main Street Richmond Virginia 23219 United States. These hotels are managed by 17 hotel management companies with separate management agreements none of which are affiliated with Apple Hospitality REIT. The use of LED lighting, energy management systems, smart irrigation systems, and energy/water conservation guidelines not only protects the environment. International stock quotes are delayed as per exchange requirements. Apple Hospitality REIT Announces October 2022 Distribution Based on the Companys common stock closing price of $15.88 on September 19, 2022, the annualized distribution of $0.84 per common share represents an annual yield of approximately 5.3%. These off-market transactions highlight the strength of our relationships with best-in-class hotel owner-operators and our ability to drive value in a highly competitive marketplace through attractive acquisitions, said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. Invest better with The Motley Fool. Its properties tend to be higher-end fare meant to provide a place to sleep, not a vacation experience like a resort. (804) 344-8121, Apple Hospitality REIT Acquires Portfolio of Three Hotels. But right now the REIT is facing an unprecedented headwind in COVID-19, and its business approach, like that of every other hotel owner, isn't holding up to the strain. Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust ("REIT") that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. However, it recovered by the last quarter of 2020. That's a lot of facts, but the important takeaway is that it adds up to a very specific approach. NYSE - NYSE Delayed Price. Apple Hospitality owns 230 hotels containing nearly 30,000 guest rooms. [2][3], Lerner has been a notable donor to causes in the community, including the Trey Whitfield School in Brooklyn.
Join IREI and Nareit on July 11 for a quarterly update offering expert analysis of the FTSE Nareit US Real Estate Index Series. The price of shares of Apple Hospitality stock were holding steady in early trading on April 14, down 0.7 percent from the previous days close of $19.23. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore there can be no assurance that such statements included in this press release will prove to be accurate. Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust ("REIT") that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Lodging/resorts REITs own nearly 1,900 properties in the United States, facilitating the expansion of commerce and making leisure travel possible. [1] The first office was established in Jericho, New York. In FY 2020, total revenue dropped to almost 50%, net loss was incurred, and FFO, RevPAR, and Occupancy hit an all-time low for the past 4 years. They hire 17 third-party, unaffiliated property managers to operate its hotels to maintain its REIT status. The Company undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events, or otherwise, except as required by law. The REITs price drastically dropped in the first quarter of 2020 because of the COVID-19 pandemic. Apple REIT Six was sold exclusively by the Lerner firm to investors from 2004 to 2006, with most shares at $11. The Motley Fool has a disclosure policy. Source: FactSet. Here's a quick look at that model, and what it has done for the real estate investment trust (REIT) and investors in the face of COVID-19. Nareit's members are REITs and other businesses throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses. The company has a substantial debt burden of approximately $3.8 billion, with $590 million due by the end of 2024 and an additional $2.6 billion due in 2025. APLE - Apple Hospitality REIT Inc Shareholders - CNNMoney.com You can visit their site to learn more about future projections. The pillar scores are Audit: 2; Board: 5; Shareholder Rights: 2; Compensation: 3. To create a fair comparison, a basic assumption was made with an initial investment of $100. RICHMOND, Va.--(BUSINESS WIRE)--
Scores indicate decile rank relative to index or region. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. kclarke@applereit.com, 814 East Main Street, Richmond, VA 23219
And since the illness is easily spread, there's a big question mark about how quickly people will return to travel even if the economy picks up again on a sustained basis. About a quarter of their REIT investment portfolio is spread out across airports, interstates, resorts, and small metros. It also reduces operating expenses. The Company undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events, or otherwise, except as required by law. In many ways this is an attractive story for investors interested in the hotel space. Data center REITs see pipeline of new opportunities and long-term demand potential. Performance Details 1 Year Return 5.68% 2 year return -0.85% 3 year return 14.99% 5 year return -0.89% 10 year return N/A Market Cap $3.3 B Dividend Yield 6.69% Dividend Amount $0.08 Ex-Dividend Date 2023-03-30 Apple Hospitality's portfolio consists of 219 hotels with more than 28,700 guest rooms located in 86 markets throughout 36 states. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. In a normal recession, hotels would simply operate as usual as they tried to muddle through the downturn with temporarily depressed occupancy rates. Analyze quarterly positions in Apple Hospitality Reit with up to 7 years of data, all consolidated into one spreadsheet. Here are 6 of the critical parameters you should look at to measure the companys operating performance: With all of those parameters defined, the table below gives you a picture of how well the company has managed its operations from 2017 up to the present. A Warner Bros. Source: Kantar Media, Apple Hospitality REIT, Inc., The Apple REIT Cos., Inc., Energy 11 LP, Energy 11 GP LLC, Energy Resources 12 LP, Southern Virginia University, President, Chief Executive Officer & Director, Ahla Foundation, Inc., Apple Hospitality REIT, Inc., Southern Virginia University, The Residence Inn Association, American Hotel & Lodging Association, Inc., Venture Richmond, The Valentine Museum. This downturn is different, because it has been driven by the global spread of COVID-19. Before the pandemic, the Company distributed dividends monthly for $1.20 per common share. The Motley Fool has no position in any of the stocks mentioned. Concentrated with industry-leading brands, the Companys portfolio consists of 94 Marriott-branded hotels, 119 Hilton-branded hotels, four Hyatt-branded hotels and one independent hotel. Apple Hospitality REIT owns their hotel room properties and leases them out to tenants. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As previously announced, the portfolio consists of the existing 157-room Hilton Garden Inn Fort Worth Medical Center in Fort Worth, Texas, for a total purchase price of $29.5 million, or approximately $188,000 per key; the existing and recently renovated 112-room Homewood Suites by Hilton Fort Worth Medical Center in Fort Worth, Texas, for a total purchase price of $21.5 million, or approximately $192,000 per key; and the existing 243-room Hampton Inn & Suites by Hilton Portland Pearl District in Portland, Oregon, for a total purchase price of $75 million, or approximately $309,000 per key. In no event shall stockzoa.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content available on stockzoa.com, or relating to the use of, or inability to use, stockzoa.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Apple Hospitality REIT Acquires Portfolio of Three Hotels The distribution is payable on October 17, 2022, to shareholders of record as of October 4, 2022. Apple Hospitality REIT invests in strong brands within the hotel industry like Marriott, Hyatt, and Hilton.