May 24, 2017 7:53 AM ET

Equity Real Estate Investment Trusts (REITs)

Company Overview of Apple Hospitality REIT, Inc.

Company Overview

Apple Hospitality REIT, Inc. is a publicly owned real estate investment trust. It invests in the real estate markets of United States. The firm invests primarily in the lodging industry. It is focused on the acquisition and ownership of income-producing real estate. The firm was formerly known as Apple REIT Nine, Inc. Apple Hospitality REIT, Inc. was founded on November 9, 2007 and is based in Richmond, Virginia. Apple Hospitality REIT, Inc. operates as a subsidiary of Apple REIT Companies.

814 East Main Street

Richmond, VA 23219

United States

Founded in 2007

Phone:

804-344-8121

Fax:

804-344-8129

Key Executives for Apple Hospitality REIT, Inc.

Chief Executive Officer, President and Director
Age: 43
Total Annual Compensation: $500.0K
Founder and Executive Chairman
Age: 72
Total Annual Compensation: $350.0K
Chief Financial Officer and Executive Vice President
Age: 51
Total Annual Compensation: $472.5K
Chief Operating Officer and Executive Vice President
Age: 43
Total Annual Compensation: $472.5K
Chief Legal Officer, Executive Vice President and Secretary
Age: 48
Total Annual Compensation: $446.3K
Compensation as of Fiscal Year 2016.

Apple Hospitality REIT, Inc. Key Developments

Apple Hospitality REIT, Inc. Announces June 2017 Distribution, Payable on June 15, 2017

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 June 2017. The distribution is payable on June 15, 2017, to shareholders of record as of June 2, 2017.

Apple Hospitality REIT, Inc. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2017; Provides Unaudited Earnings Guidance for the Year Ending December 31, 2017; Reports Impairment for the First Quarter of 2017

Apple Hospitality REIT, Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenues of $292,925,000 compared with $224,487,000 for the same period a year ago. Operating income was $46,332,000 compared with $43,752,000 for the same period a year ago. Income before income taxes was $34,615,000 compared with $34,949,000 for the same period a year ago. Net income was $34,365,000 or $0.15 per basic and diluted share compared with $34,686,000 or $0.20 per basic and diluted share for the same period a year ago. EBITDA was $90,264,000 compared with $77,498,000 for the same period a year ago. Adjusted EBITDA was $99,078,000 compared with $78,610,000 for the same period a year ago. Modified funds from operations were $86,881,000 compared with $69,314,000 for the same period a year ago. Funds from operations were $85,942,000 compared with $68,202,000 for the same period a year ago. For the full year ending December 31, 2017, unaudited net income is expected to be $209,000,000 to $232,000,000. EBITDA is expected to be $434,425,000 to $454,425,000. Adjusted EBITDA is expected to be $430,000,000 to $450,000,000. Due to the change in the anticipated hold period of each of these hotels, the company recognized an impairment loss of approximately $8 million during the first quarter of 2017, to adjust the bases of these properties to their estimated fair values.

Apple Hospitality REIT, Inc. Declares Regular Monthly Cash Distribution for the Month of May 2017, Payable on May 15, 2017

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 May 2017. The distribution is payable on May 15, 2017 to shareholders of record as of May 2, 2017.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 4, 2017
SpringHill Suites by Marriott Columbus and TownePlace Suites by Marriott Columbus
Merger/Acquisition
November 7, 2016
226-Room Marriott Hotel and 224-Room Hilton Hotel
 

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