Every material Form 8-K Apple Hospitality REIT filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Apple Hospitality REIT reported third-quarter 2024 results on November 4, 2024, with net income down 3.8% from a year earlier while Adjusted EBITDAre rose 5.7%. The company also lowered its full-year 2024 net income and Adjusted EBITDAre guidance midpoints slightly, so shareholders see mixed headline results and a modest guidance reduction.
Q3 2024 net income was $56.3 million, down 3.8% from $58.5 million; net income per share was $0.23, down from $0.26
Q3 2024 Adjusted EBITDAre rose 5.7% to $128.9 million, and MFFO rose 3.2% to $107.4 million
Nine-month net income was $184.2 million, up 17.6%, and Comparable Hotels RevPAR rose 0.8% in Q3 to $125.30
Versus the midpoint of prior guidance, 2024 net income is down $1 million and Adjusted EBITDAre is down $1.5 million; updated net income range is $204 million to $221 million
Apple Hospitality REIT reported second-quarter 2024 net income of $73.9 million, up 13.2% from a year earlier, and EPS of $0.31 versus $0.29. The company also lowered its 2024 outlook, decreasing net income guidance by $6 million and Adjusted EBITDAre guidance by $7 million at the midpoint, which lowers the expected earnings for shareholders.
Q2 2024 net income was $73.9 million versus $65.3 million in Q2 2023; EPS was $0.31 versus $0.29.
Adjusted EBITDAre was $140.9 million, up 9.1%; MFFO was $121.3 million, up 8.9%.
Updated 2024 guidance: net income of $202 million to $225 million and Adjusted EBITDAre of $456 million to $474 million, with Comparable Hotels RevPAR change cut by 150 bps at the midpoint.
Preliminary July 2024 Comparable Hotels occupancy was approximately 77%, flat versus July 2023, with ADR down slightly.
At its May 23, 2024 Annual Meeting, Apple Hospitality REIT shareholders approved a new 2024 Omnibus Incentive Plan reserving 7,250,000 common shares, re-elected all nine director nominees, and ratified KPMG LLP as auditor for 2024. The Board also extended the share repurchase program until July 2025, permitting repurchases of up to $335.4 million of common shares.
Shareholders approved the 2024 Omnibus Incentive Plan, reserving 7,250,000 common shares for issuance; 198,642,262 votes for versus 6,672,485 against.
All nine directors were elected to one-year terms expiring at the 2025 Annual Meeting, with CEO Justin G. Knight among the nominees.
The Board extended the share repurchase program until July 2025, allowing up to $335.4 million in common share buybacks; the filing says there is no assurance any purchases will be made.
Apple Hospitality REIT reported first-quarter 2024 net income of $54 million, up 64% from a year earlier, on total revenue of $329.5 million, up from $311.5 million. The company raised the midpoint of its full-year 2024 net income guidance by $16 million, attributing the increase to its March acquisition of the AC Hotel Washington DC Convention Center. Comparable hotel adjusted EBITDA fell 3.2%, while comparable RevPAR was flat at $111.09.
Q1 2024 net income was $54 million, or $0.22 per share, versus $33 million, or $0.14 per share, in Q1 2023.
Adjusted EBITDAre was $101 million, up 6% from Q1 2023; MFFO was $83 million, up 5%.
2024 net income guidance is $207 million to $233 million, with the midpoint raised by $16 million; Adjusted EBITDAre guidance is $461 million to $483 million, with the midpoint raised by $9 million.
Comparable Hotels Adjusted Hotel EBITDA fell 3.2% to $111.7 million; the company's April 2024 occupancy was approximately 80%.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Apple Hospitality REIT filing is on SEC EDGAR ↗. 8-K briefs of other companies →