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Real estate industry

Apple Hospitality REIT Declares Regular Monthly Cash Distribution

Strategic Insights

— 1 min read

Apple Hospitality REIT, Inc. recently announced the declaration of a regular monthly cash distribution of $0.08 per common share. This distribution will be payable on August 15, 2024, to shareholders of record as of July 31, 2024. The annualized distribution of $0.96 per common share represents an annual yield of approximately 6.3%, based on the Company's common stock closing price of $15.30 on July 17, 2024. Apple Hospitality REIT 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.

Key Takeaways:

  • Apple Hospitality REIT declares regular monthly cash distribution of $0.08 per common share.
  • The distribution is payable on August 15, 2024, to shareholders of record as of July 31, 2024.
  • The annualized distribution of $0.96 per common share represents an annual yield of approximately 6.3%.
  • Apple Hospitality's portfolio consists of 224 hotels with more than 30,000 guest rooms located in 87 markets throughout 37 states and the District of Columbia.
  • The Company's hotel portfolio consists of 100 Marriott-branded hotels, 119 Hilton-branded hotels, and five Hyatt-branded hotels.
  • Apple Hospitality REIT's Board of Directors has carefully evaluated the company's financial position and distribution policy.

Statistics:

  • $0.08: the regular monthly cash distribution per common share.
  • August 15, 2024: the date on which the distribution will be payable.
  • July 31, 2024: the record date for shareholders.
  • $0.96: the annualized distribution per common share.
  • 6.3%: the annual yield, based on the Company's common stock closing price of $15.30 on July 17, 2024.
  • 224: the number of hotels in Apple Hospitality REIT's portfolio.
  • 30,000+: the number of guest rooms in Apple Hospitality REIT's portfolio.
  • 37: the number of states in which Apple Hospitality REIT's hotels are located.
  • 87: the number of markets in which Apple Hospitality REIT's hotels are located.

Sources:

  • Apple Hospitality REIT's press release, dated July 18, 2024.
  • Apple Hospitality REIT's website, www.applehospitalityreit.com.
  • Businesswire, "Apple Hospitality REIT Declares Regular Monthly Cash Distribution of $0.08 per Common Share", dated July 18, 2024.

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