Apple Hospitality REIT, Inc. Declares Regular Monthly Cash Distribution for the Month of September 2015, Payable on September 15, 2015
Aug 20 15
Apple Hospitality REIT, Inc. announced that its board of directors declared a regular monthly cash distribution of $0.10 per common share for the month of September 2015. The distribution is payable on September 15, 2015, to shareholders of record as of August 31, 2015. Based on the company's common stock closing price of $17.92 on August 19, 2015, the annualized distribution of $1.20 per common share represents an annual 6.7% yield.
Apple Hospitality REIT, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015 and Capital Expenditures Guidance for the Second Half of 2015
Aug 6 15
Apple Hospitality REIT, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company announced total revenue of $234,374,000 compared to $232,568,000 a year ago. Operating income was $52,164,000 compared to $51,683,000 a year ago. Income before income taxes was $44,667,000 compared to $44,350,000 a year ago. Net income was $44,245,000 or $0.24 per basic and diluted share compared to $43,799,000 or $0.23 per basic and diluted share a year ago. EBITDA was $83,161,000 compared to $82,773,000 a year ago. Adjusted EBITDA was $90,106,000 compared to $85,428,000 a year ago. Adjusted hotel EBITDA was $93,805,000 compared to $92,056,000 a year ago. Comparable hotel adjusted hotel EBITDA was $94,445,000 compared to $87,021,000 a year ago. Modified funds from operations were $82,229,000 or $0.44 per share compared to $77,314,000 or $0.41 per share a year ago. Funds from operations were $75,555,000 compared to $74,659,000 a year ago.
For the six months, the company announced total revenue of $444,726,000 compared to $369,689,000 a year ago. Operating income was $88,451,000 compared to operating loss of $38,864,000 a year ago. Income before income taxes was $88,846,000 compared to loss before income taxes of $49,721,000 a year ago. Net income was $88,112,000 or $0.47 per basic and diluted share compared to net loss of $50,663,000 or $0.33 per basic and diluted share a year ago. EBITDA was $167,819,000 compared to $11,889,000 a year ago. Adjusted EBITDA was $161,209,000 compared to $134,081,000 a year ago. Adjusted hotel EBITDA was $170,455,000 compared to $143,228,000 a year ago. Comparable hotel adjusted hotel EBITDA was $170,697,000 compared to $153,202,000 a year ago. Modified funds from operations were $145,053,000 or $0.78 per share compared to $121,976,000 or $0.78 per share a year ago. Funds from operations were $136,305,000 compared to negative of $216,000 a year ago. The company invested approximately $20 million in capital expenditures during the first half of 2015.
For the year 2015, the company expects adjusted EBITDA to be in the range from $310 million to $330 million.
The company expected capital expenditures will be in the range of $30 million to $40 million for the second six months of the year 2015.