Apple Hospitality REIT Announces December 2022 Distribution
November 18 2022 - 9:00AM
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 $0.08 per common
share for the month of December 2022. The distribution is payable
on December 15, 2022, to shareholders of record as of December 2,
2022.
Based on the Company’s common stock closing price of $15.97 on
November 17, 2022, the annualized distribution of $0.96 per common
share represents an annual yield of approximately 6.0%.
About Apple Hospitality REIT,
Inc. 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 states. 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. For more
information, please visit www.applehospitalityreit.com.
Forward-Looking Statements
Disclaimer 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. 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. 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.
Currently, one of the most significant factors that could cause
actual outcomes to differ materially from the Company’s
forward-looking statements continues to be the adverse effect of
COVID-19, including resurgences and variants, on the Company’s
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 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 extent and
effectiveness of the actions taken to mitigate its impact, the
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, and the direct and indirect
economic effects of the pandemic and containment measures, among
others. Moreover, investors are cautioned to interpret many of the
risks identified under the section titled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2021 as being heightened as a result of the ongoing
and numerous adverse impacts of COVID-19. 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 (including the potential effects of
inflation or a recessionary environment); 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 Company’s business,
assets or classification as a REIT. 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. 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. In addition, the Company’s qualification
as a REIT involves the application of highly technical and complex
provisions of the Internal Revenue Code of 1986, as amended.
Readers should carefully review the risk factors described in the
Company’s filings with the Securities and Exchange Commission,
including but not limited to those discussed in the section titled
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2021. Any forward-looking statement
that the Company makes speaks only as of the date of this press
release. 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.
For additional information or to receive press
releases by email, visit www.applehospitalityreit.com.
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Apple Hospitality REIT, Inc. Kelly Clarke, Vice President,
Investor Relations 804‐727‐6321 kclarke@applereit.com
Apple Hospitality REIT (NYSE:APLE)
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