Apple Hospitality REIT Declares Regular Monthly Cash Distribution

Strategic Insights -

Apple Hospitality REIT, Inc. declared a regular monthly cash distribution of $0.08 per common share, which represents an annual yield of approximately 6.6% based on the Company's common stock closing price of $14.46 on September 18, 2024. The distribution is payable on October 15, 2024, to shareholders of record as of September 30, 2024.

The REIT owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States, consisting 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 is concentrated with industry-leading brands, with 100 Marriott-branded hotels, 119 Hilton-branded hotels, and five Hyatt-branded hotels.

Key Takeaways:

  • Apple Hospitality REIT declared a regular monthly cash distribution of $0.08 per common share, payable on October 15, 2024, to shareholders of record as of September 30, 2024.
  • The distribution represents an annual yield of approximately 6.6% based on the Company's common stock closing price of $14.46 on September 18, 2024.
  • The REIT owns a portfolio 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 is concentrated with industry-leading brands, with 100 Marriott-branded hotels, 119 Hilton-branded hotels, and five Hyatt-branded hotels.
  • Apple Hospitality REIT's portfolio consists of a mix of full-service and select-service hotels, with a focus on upscale and upper-upscale properties.
  • The Company has a proven track record of acquiring and integrating hotel assets, with a focus on maximizing cash flow and returning value to shareholders.

Statistics:

  • Regular monthly cash distribution: $0.08 per common share
  • Annual yield: approximately 6.6% based on the Company's common stock closing price of $14.46 on September 18, 2024
  • Number of hotels: 224
  • Number of guest rooms: more than 30,000
  • Number of markets: 87
  • Number of states and the District of Columbia: 37
  • Breakdown of hotel brands:

+ Marriott-branded hotels: 100

+ Hilton-branded hotels: 119

+ Hyatt-branded hotels: 5

Sources:

  • Businesswire: https://www.businesswire.com/news/home/20240918883540/en/
  • Apple Hospitality REIT website: www.applehospitalityreit.com
  • Securities and Exchange Commission filings, including the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023.