Apple Hospitality REIT Announces Monthly Distribution
February 16 2024 - 8:00AM
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. The distribution is payable on March 15, 2024, to
shareholders of record as of February 29, 2024.
Based on the Company’s common stock closing price of $16.17 on
February 15, 2024, the annualized distribution of $0.96 per common
share represents an annual yield of approximately 5.9%.
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 225 hotels
with 29,900 guest rooms located in 88 markets throughout 38 states
as well as one property leased to third parties. Concentrated with
industry-leading brands, the Company’s hotel portfolio consists of
100 Marriott-branded hotels, 120 Hilton-branded hotels and five
Hyatt-branded hotels. 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.
Such 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 geopolitical uncertainty,
including terrorism, travel-related health concerns, including
COVID-19 or other widespread outbreaks of infectious or contagious
diseases in the U.S.; inclement weather conditions, including
natural disasters such as hurricanes, earthquakes and wildfires;
government shutdowns, airline strikes or other disruptions; 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, 2022. 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
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