Apple Hospitality REIT Announces Regular Monthly Cash Distribution

Strategic Insights -

Apple Hospitality REIT, Inc. today announced that its Board of Directors declared a regular monthly cash distribution of $0.08 per common share, payable on September 16, 2024, to shareholders of record as of August 30, 2024. The annualized distribution of $0.96 per common share represents an annual yield of approximately 6.7%, based on the Company's common stock closing price of $14.38 on August 19, 2024. 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, with a strong concentration of industry-leading brands such as Marriott, Hilton, and Hyatt.

Key Takeaways:

  • Apple Hospitality REIT declared a regular monthly cash distribution of $0.08 per common share, payable on September 16, 2024, to shareholders of record as of August 30, 2024.
  • The annualized distribution of $0.96 per common share represents an annual yield of approximately 6.7%, based on the Company's common stock closing price of $14.38 on August 19, 2024.
  • The Company's hotel portfolio consists of 100 Marriott-branded hotels, 119 Hilton-branded hotels, and five Hyatt-branded hotels, with a total of 224 hotels and more than 30,000 guest rooms across 87 markets.
  • Apple Hospitality's portfolio is concentrated in 37 states and the District of Columbia, with a strong presence in the upscale, rooms-focused hotel market.
  • The distribution is subject to the Company's qualification as a REIT and the application of complex provisions of the Internal Revenue Code of 1986, as amended.
  • The Company undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as required by law.

Statistics:

  • Total number of hotels in Apple Hospitality's portfolio: 224
  • Total guest rooms in Apple Hospitality's portfolio: more than 30,000
  • Number of Marriott-branded hotels in Apple Hospitality's portfolio: 100
  • Number of Hilton-branded hotels in Apple Hospitality's portfolio: 119
  • Number of Hyatt-branded hotels in Apple Hospitality's portfolio: 5
  • Distribution per common share: $0.08 per common share
  • Annualized distribution: $0.96 per common share
  • Annual yield: approximately 6.7%
  • Closing price of Apple Hospitality common stock on August 19, 2024: $14.38

Sources:

  • Businesswire: Apple Hospitality REIT Announces Regular Monthly Cash Distribution (August 19, 2024)
  • Apple Hospitality REIT, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (January 2024)
  • Apple Hospitality REIT, Inc. website: www.applehospitalityreit.com