Lodging/resorts REITs own nearly 1,900 properties in the United States, facilitating the expansion of commerce and making leisure travel possible. Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. The Company earns revenues from daily hotel operations. Factset: FactSet Research Systems Inc.2019. Their real estate properties are spread out across 35 states in 84 U.S. markets. The Motley Fool has no position in any of the stocks mentioned. Cost basis and return based on previous market day close. Apple Hospitality owns 230 hotels containing nearly 30,000 guest rooms. Ashford Hospitality Trust: Substantial Debt, No Dividends Charles Schwab Investment Management, Inc. This may signal that the smart money is gaining interest in . 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. We are pleased to increase our presence in the dynamic Fort Worth, Texas market and expand into Portland, Oregon, with these high-quality, attractively-priced, well-positioned assets that align with our core ownership strategy. 814 East Main Street Richmond Virginia 23219 United States. Since March 2020, the Company has suspended its monthly distributions. For the third quarter of 2021, the Hampton Inn & Suites Portland Pearl District achieved occupancy of over 60% and produced RevPAR of approximately $105. Source: Investor Presentation (August 2021). kclarke@applereit.com, 814 East Main Street, Richmond, VA 23219 Last Close 14.36 Sector Real Estate Industry REIT - Hotel & Motel Investment Style Small Growth Day Range 14.31 - 14.60 Year Range 13.66 - 17.85 Market Cap 3.2886 Bil Volume / Avg 1.9 Mil / 1.8. [12], In April 2013, U.S. District Judge Kiyo Matsumoto dismissed the class action lawsuit, ruling that investors had received sufficient disclosure to understand the risks of investing in its trusts. Is Apple Hospitality REIT a Buy? | The Motley Fool The REITs price drastically dropped in the first quarter of 2020 because of the COVID-19 pandemic. You have to also run the numbers and see how the company managed its investments through the ups and downs of the business cycle. Proceeds from property sales go to payments for the revolving credit facilities borrowings, further acquisitions, and other general purposes. It owns hotels located in urban . [8] The portfolio of Apple REIT Six consists of 66 hotels in 18 states and cashed out successfully for its investors. This is an important factor to consider when looking at Apple Hospitality, or any other hotel REIT, since the United States fell into a recession in February. The company's current cash on hand is . [12] [13], Apple Hospitality REIT announced in April 2016 that they were purchasing Apple Ten. Apple Hospitalitys portfolio consists of 219 hotels with more than 28,700 guest rooms located in 86 markets throughout 36 states. According to their Q2 2021 report, upscale and suburban hotels outperform luxury and urban hotels throughout the hospitality industry. Currently, one of the most significant factors that could cause actual outcomes to differ materially from the Companys forward-looking statements continues to be the adverse effect of COVID-19, including resurgences and variants, on the Companys business, financial performance and condition, operating results and cash flows, the real estate market and the hospitality industry specifically, and the global economy and financial markets generally. As of August 30, 2021, 547 hotel rooms are held for sale worth $159.8M while 837 rooms worth $227.7B were acquired. In addition, the Companys qualification as a REIT involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, as amended. It just means that the past 5 years didnt matter in terms of the market price. Apple Hospitality REIT, Inc. is a REIT that owns one of the largest portfolios of upscale, select service hotels in the U.S. A Warner Bros. 1-800-3-NAREIT Hence, essential industries influenced the share returns. RICHMOND, Va.--(BUSINESS WIRE)-- The management fee has a variable fee structure which accounts for about 2.5% to 3.5% of the gross revenues. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. In February occupancy was 76%, in March it fell to 41%, and in April it dropped to a disastrous 18%. 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 . With strong operational performance and balance sheets, REITs are well-positioned to navigate economic and market uncertainty in 2023. 1-202-739-9401 (fax). The hotel industry has its seasonal variability with the 2nd and 3rd quarters having greater revenues compared to the 1st and 4th quarters. [1], David Lerner Associates was founded by David Lerner in 1976. 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. Apple Hospitality REIT, Inc. | Nareit Science Applications International Corp., Apple Hospitality REIT, Inc., Invesco Mortgage Capital, Inc. Chief Operating Officer & Senior Vice President, Total Insider Purchases and Sales Reported to the SEC, Vanguard US Total Market Shares Index ETF, Capitol Series Trust - Fuller & Thaler Behav. The Company makes use of its connections to gain vendor contracts and to expand franchising networks. Data center REITs see pipeline of new opportunities and long-term demand potential. Moreover, investors are cautioned to interpret many of the risks identified under the section titled Risk Factors in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2020 as being heightened as a result of the ongoing and numerous adverse impacts of COVID-19. However, that's not enough for the company to operate at anywhere near the financial levels it did before COVID-19. Apple Hospitality REITs hotel rooms have a sustainable advantage. That's a lot of facts, but the important takeaway is that it adds up to a very specific approach. OTR - Nominee Name for The State Teachers Retirement Board of Ohio, State of New Jersey Common Pension Fund D, California State Teachers Retirement System, DeRoy & Devereaux Private Investment Counsel, Raymond James Financial Services Advisors, Alberta Investment Management Corporation, Track 13F-HR Filings for Hedge Funds and Value Investors. Corporate Overview - Apple Hospitality REIT These are the right moves to survive a crisis. 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. 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. Apple Hospitality REIT invests in strong brands within the hotel industry like Marriott, Hyatt, and Hilton. David Lerner Associates (DLA) is a privately held securities broker/dealer, with clients' assets totaling approximately $6 billion. The use of LED lighting, energy management systems, smart irrigation systems, and energy/water conservation guidelines not only protects the environment. Making the world smarter, happier, and richer. More aggressive types might reconsider the stock if there's substantial progress made containing the coronavirus, but most investors would be better off waiting for more material signs of a business turnaround at Apple Hospitality before investing here. Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced the acquisition of a portfolio of three hotels for a total purchase price of $126 million. To even out and make consistent distributions, they may use a revolving credit facility. The Companys CEO agreed to waive 6 months of his salary while the Board of Directors volunteered to reduce their annual fees by more than 15%. 2023-06-28 | NYSE:APLE | Press Release | Apple Hospitality REIT Inc The pillar scores are Audit: 2; Board: 5; Shareholder Rights: 2; Compensation: 3. Apple Hospitality REIT, Inc. (NYSE: APLE) said April 14 that it plans to acquire public non-listed REIT Apple REIT Ten, Inc. in a deal valued at $1.3 billion. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. National Association of Real Estate Investment Trusts and Nareit are registered trademarks of the National Association of Real Estate Investment Trusts (Nareit). Most REITs trade on major stock exchanges, and they offer a number of benefits to investors. APLE outperformed among the 10 companies compared with. You can visit their site to learn more about future projections. Apple Hospitality REIT - APLE - Stock Price & News | The Motley Fool It also reduces operating expenses. Learn More. The effective interest rates range between 3.40% to 4.97% and the maturity dates are from September 2022 to May 2038. 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. As of June 30, 2021, the Company has an outstanding mortgage debt of approximately $450.7M with a total of 28 properties in collateral. They work with third-party and unaffiliated hotel management companies. It only came back on the first quarter of 2021 where the quarterly distributions of $0.01 per common share started. . Concentrated with industry-leading brands, the Company's portfolio consists of 96 Marriott-branded hotels, 119 Hilton-branded hotels, four Hyatt-branded hotels and one independent hotel. 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. [citation needed], Apple REIT started out as a non-traded real estate investment trust, and David Lerner Associates was the exclusive broker for this product. Their product offerings include municipal bonds, mutual funds, retirement planning, life insurance, and other services. This downturn is different, because it has been driven by the global spread of COVID-19. 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. Today, the price is back up comparable to their 2019 market run. International stock quotes are delayed as per exchange requirements. This may signal that the smart money is gaining interest in this company as the 85.00% of shares outstanding that institutional investors hold is actually below the Real Estate Investment Trusts industry average. For FY 2020, the Companys net real estate investments were approximately $4.7B. RICHMOND, Va.--(BUSINESS WIRE)--Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced that its Board of Directors declared a regular monthly cash distribution of $0.07 per common share for the month of October 2022. Apple Hospitality REITs portfolio as of June 30, 2021, consists of 29,753 rooms in 232 hotels across 35 states. The average age of the company's portfolio is roughly four years, with 97% of its properties either built or renovated in the last eight years. Discovery Company. For additional information or to receive press releases by email, visit www.applehospitalityreit.com. Apple Hospitality's portfolio consists of 220 hotels with approximately 29,000 guest rooms located in 87 markets throughout 37 states . [14], In May 2011, the Financial Industry Regulatory Authority (FINRA) filed a class action lawsuit against David Lerner Associates, charging the firm with misleading investors by marketing unsuitable products to them and conducting insufficient due diligence on the company that managed its real estate funds. Currently, one of the most significant factors that could cause actual outcomes to differ materially from the Companys forward-looking statements continues to be the adverse effect of COVID-19, including resurgences and variants, on the Companys business, financial performance and condition, operating results and cash flows, the real estate market and the hospitality industry specifically, and the global economy and financial markets generally. The Company's portfolio consists of 236 hotels, with more than 30,000 guest rooms. But today in the pandemic, the Company has suspended monthly distributions since March 2020. A portfolio filled with fresh properties helps ensure that its facilities are attractive to its lessees, brands, and the end customer. 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. Apple Hospitality REIT, a Virginia corporation founded in 2007, invests in high-quality and strong brands of room-focused hotels across the U.S. markets, such as Marriott, Hilton, and Hyatt. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The REIT Index has slightly outperformed APLE. Who bought or sold Apple Hospitality Reit this quarter? 814 East Main Street For 60 years, Nareit has led the U.S. REIT industry by ensuring its members best interests are promoted by providing unparalleled advocacy, investor outreach, continuing education and networking. Most stock quote data provided by BATS. This is an important factor to consider when looking at Apple Hospitality, or any other hotel REIT, since the United . The merger agreement also provides Apple REIT Ten with a go-shop period during which Apple Ten will actively solicit alternative proposals from third parties for a 45-day period concluding on May 28. The real estate investment trust's portfolio spans across 34 states and nearly 90 submarkets. They started trading on the NYSE (APLE) in May 2015. Corporate Overview Apple Hospitality REIT, Inc. (NYSE: APLE) owns one of the largest portfolios of upscale, rooms-focused hotels in the United States. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. All rights reserved. However, Apple Hospitality (APLE 0.53%) believes it has a business model that sets it apart from the pack. 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. The headquarters is in Syosset, New York, and there are branch offices in Westport, CT; Boca Raton, Florida; Teaneck and Lawrenceville, NJ; and White Plains, NY. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. In a normal recession, hotels would simply operate as usual as they tried to muddle through the downturn with temporarily depressed occupancy rates. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. The company was founded by Glade M. Knight on November 8, 2007 and is headquartered in Richmond, VA. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. But from time to time, they may assess whether selling some properties will bring more value to their investment portfolio. Following these acquisitions, the Apple Hospitality portfolio includes 219 hotels with 28,747 guest rooms geographically diversified throughout 36 states. Artificial Intelligence Likely to Add New Layer of Demand for Data Center Industry, FTSE Nareit U.S. Real Estate Index Q2 in Review. They started publicly trading on May 18, 2015, on the New York Stock Exchange with the ticker symbol. Most of these hotels are located in high-end suburban places, followed by urban areas. Under no circumstances does any information posted on stockzoa.com represent a recommendation to purchase or sell a stock. kclarke@applereit.com, Apple Hospitality REIT Announces October 2022 Distribution, Internet Explorer presents a security risk. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. REITs invest in the majority of real estate property types, including offices, apartment buildings, warehouses, retail centers, medical facilities, data centers, cell towers, infrastructure and hotels. [4] For 20 years,[citation needed] David Lerner Associates has been the prime sponsor of the Greater Long Island Running Clubs Annual Police Appreciation Run. They dont own any foreign assets and they only focus on one sector. 814 East Main StreetRichmond, VA 23219-3306United States(804) 344-8121https://www.applehospitalityreit.com, Sector(s):Real EstateIndustry:REITHotel & MotelFull Time Employees:63. The information on this site is not intended to be, nor does it constitute, investment advice or recommendations. The significance, extent and duration of the continued impacts caused by the COVID-19 pandemic on the Company will depend on future developments, which are highly uncertain and cannot be predicted with confidence at this time, including the scope, severity and duration of the pandemic, the extent and effectiveness of the actions taken to contain the pandemic or mitigate its impact, the efficacy, acceptance and availability of vaccines, the duration of associated immunity and efficacy of the vaccines against variants of COVID-19, the potential for additional hotel closures/consolidations that may be mandated or advisable, whether based on increased COVID-19 cases, new variants or other factors, the slowing or potential rollback of reopenings in certain states, and the direct and indirect economic effects of the pandemic and containment measures, among others. The S&P 500 Index is a much more broad benchmark that includes large-cap companies from different industries beyond lodging. 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. It aligns itself with top brands and top operators to ensure that it's teaming with the best in the business. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. The pillar scores are Audit: 2; Board: 5; Shareholder Rights: 2; Compensation: 3. Since then, it has had its ups and downs but has so far not yet soared past its IPO. It would operate in 33 states, with an enterprise value of approximately $5.7 billion and a total equity market capitalization of approximately $4.4 billion. Portland is home to a variety of business demand generators, including technology, consumer goods, trade, health care, education, financial services and manufacturing, and the hotels location also makes it an attractive destination for leisure travel. All Rights Reserved. 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. Apple Hospitality would also assume approximately $239 million in debt from Apple REIT Ten. Apple Hospitality REIT Announces October 2022 Distribution FINRA complaint and class action dismissal, Learn how and when to remove this template message, Financial Industry Regulatory Authority (FINRA), "Wall Street Journal Ranks David Lerner Associates' Mutual Fund in Their Best-Performing Stock Fund Report", "David Lerner Associates' financial condition deteriorates", https://en.wikipedia.org/w/index.php?title=David_Lerner_Associates&oldid=1131026385, Financial services companies established in 1976, Investment companies of the United States, Articles with a promotional tone from May 2015, Articles with unsourced statements from August 2020, Articles with unsourced statements from February 2021, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 2 January 2023, at 05:14. Forward-looking statements are typically identified by use of statements that include phrases such as may, believe, expect, anticipate, intend, estimate, project, target, goal, plan, should, will, predict, potential, outlook, strategy, and similar expressions that convey the uncertainty of future events or outcomes. [3], In October 2012, David Lerner Associates agreed to settle with FINRA for $14 million without admitting or denying the charges. For the second quarter of 2021, FFO metrics were compared within the upscale to upper-upscale hotel companies. That's not because it is a bad company -- in fact, the core business model is fairly attractive as far as hotels go. APLE | Apple Hospitality REIT Inc. Company Profile & Executives - WSJ Returns as of 07/01/2023. REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. The main goal is to provide it with more breathing room on the liquidity front so it can manage through this severe and unusual downturn. In FY 2019, 96% of their investment portfolio is enrolled in the U.S. EPAs Energy STAR program. APLE - Apple Hospitality REIT, Inc. - Yahoo Finance For more information, please visit www.applehospitalityreit.com. Additional factors include, but are not limited to, the ability of the Company to effectively acquire and dispose of properties and redeploy proceeds; the anticipated timing and frequency of shareholder distributions; the ability of the Company to fund capital obligations; the ability of the Company to successfully integrate pending transactions and implement its operating strategy; changes in general political, economic and competitive conditions and specific market conditions; reduced business and leisure travel due to travel-related health concerns, including the COVID-19 pandemic or an increase in COVID-19 cases or any other infectious or contagious diseases in the U.S. or abroad; adverse changes in the real estate and real estate capital markets; financing risks; changes in interest rates; litigation risks; regulatory proceedings or inquiries; and changes in laws or regulations or interpretations of current laws and regulations that impact the Companys business, assets or classification as a REIT. Forward-looking statements are typically identified by use of statements that include phrases such as may, believe, expect, anticipate, intend, estimate, project, target, goal, plan, should, will, predict, potential, outlook, strategy, and similar expressions that convey the uncertainty of future events or outcomes. 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. Kelly Clarke, Vice President, Investor Relations Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. Apple Hospitality REIT, NYSE: APLE Additional factors include, but are not limited to, the ability of the Company to effectively acquire and dispose of properties and redeploy proceeds; the ability of the Company to fund capital obligations; the ability of the Company to successfully integrate pending transactions and implement its operating strategy; changes in general political, economic and competitive conditions and specific market conditions; reduced business and leisure travel due to travel-related health concerns, including the widespread outbreak of COVID-19 or an increase in COVID-19 cases or any other infectious or contagious diseases in the U.S. or abroad; adverse changes in the real estate and real estate capital markets; financing risks; changes in interest rates; litigation risks; regulatory proceedings or inquiries; and changes in laws or regulations or interpretations of current laws and regulations that impact the Companys business, assets or classification as a REIT.
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