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Apple Hospitality REIT
(NYSE:APLE)
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Rating:75Outperform
Price Target:
$18.00
â–²(7.33% Upside)
Action:Reiterated
Date:08/11/26
APLE scores well primarily on strong financial quality (cash flow strength and improved balance sheet flexibility) and a constructive earnings call with raised guidance and solid RevPAR/margin momentum. The high dividend yield supports the profile, while the overall score is held back by weaker near-term technicals and the risk of cyclical revenue/margin volatility typical of lodging REITs.
Positive Factors
Balance Sheet Strength
Extended maturities, larger revolver and near‑5 year weighted average debt maturity materially reduce near‑term refinancing risk. This structural liquidity and tenor improvement preserves flexibility for capex, distributions and opportunistic investments through varying lodging cycles.
Negative Factors
Cyclical RevPAR Sensitivity
Hotel cash flows and margins remain exposed to macro and local demand swings; RevPAR volatility drives earnings and distribution variability. Structural reliance on travel recovery and event‑driven spikes means sustained growth requires consistent demand improvement, not one‑time catalysts.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Extended maturities, larger revolver and near‑5 year weighted average debt maturity materially reduce near‑term refinancing risk. This structural liquidity and tenor improvement preserves flexibility for capex, distributions and opportunistic investments through varying lodging cycles.
Read all positive factors
Apple Hospitality REIT (APLE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.79B
Dividend Yield5.97%
Average Volume (3M)2.76M
Price to Earnings (P/E)21.7
Beta (1Y)0.73
Revenue Growth1.17%
EPS Growth-1.97%
CountryUS
Employees64
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)0.74
Shares Outstanding236,082,700
10 Day Avg. Volume2,431,065
30 Day Avg. Volume2,762,586
Financial Highlights & Ratios
PEG Ratio-0.95
Price to Book (P/B)0.89
Price to Sales (P/S)2.00
P/FCF Ratio9.96
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$17.21Price Target Upside2.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.71
Revenue Forecast (FY)$1.45B
Apple Hospitality REIT Business Overview & Revenue Model
Company Description
Apple Hospitality REIT, Inc. (NYSE: APLE) operates as a publicly traded real estate investment trust, managing one of the largest and most diverse collections of upscale, rooms-focused hotel properties throughout the United States. Its expansive p...
How the Company Makes Money
APLE makes money primarily by owning hotels and earning property-level cash flow generated from hotel operations. Its core revenue stream is hotel room revenue (paid by guests for overnight stays), which is typically the largest component of a sel...
Apple Hospitality REIT Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive operating and financial picture: strong RevPAR, ADR and occupancy growth in Q2 (with July momentum), healthy margin expansion and solid NFFO growth, successful operator conversions, improved guidance, and a materially strengthened balance sheet after July refinancings. Offsetting items include localized market weakness (notably Phoenix), higher utilities and R&M costs, development constraints from elevated construction costs, a persistent bid-ask spread limiting acquisitions, and some event-driven RevPAR lift from the World Cup that will not recur. On balance the company highlighted multiple durable improvements (broad-based demand, weekday/business travel recovery, conversion benefits, liquidity and capital flexibility), so positives materially outweigh the headwinds reported.Positive Updates
Comparable RevPAR and Occupancy Growth
Q2 comparable hotels RevPAR of $136, up 5.3% year-over-year; ADR $170, up 3.5%; occupancy 80.1%, up 130 basis points. Year-to-date comparable RevPAR $125, up 3.8%; ADR $164, up 1.9%; occupancy 76.5%, up 140 basis points.
Negative Updates
Market-Specific Weakness — Phoenix
Phoenix comparable RevPAR decreased ~5% year-over-year, with declines in both occupancy and rate driven in part by a pullback in semiconductor-related business.
Read all updates
Q2-2026 Updates
Positive
Negative
Comparable RevPAR and Occupancy Growth
Q2 comparable hotels RevPAR of $136, up 5.3% year-over-year; ADR $170, up 3.5%; occupancy 80.1%, up 130 basis points. Year-to-date comparable RevPAR $125, up 3.8%; ADR $164, up 1.9%; occupancy 76.5%, up 140 basis points.
Read all positive updates
Company Guidance
Management raised and refreshed full‑year guidance, now calling for comparable hotels RevPAR growth of 2.25%–4.25% (midpoint 3.25%, a 25‑bp increase), comparable hotels adjusted hotel EBITDA margin of 33.7%–34.7% (midpoint up 75 bps vs. prior midpoint, implying ~+25 bps year‑over‑year at midpoint), adjusted EBITDAre of $453M–$476M, and net income of $152M–$180M; the outlook assumes total hotel expense growth of ~4% at the midpoint (per occupied room expense growth of 2%), full‑year reinvestment of $85M–$95M (midpoint ≈6% of revenues; YTD capex $40M), and reflects strong operating momentum (Q2 comparable RevPAR +5.3%, ADR $170, occupancy 80.1%; preliminary July RevPAR >5.5%) alongside a strengthened balance sheet (~$1.5B total debt pre‑refinance, 3.2x trailing EBITDA, 4.8% avg rate; post‑quarter refinancings expanded unsecured capacity to ≈$1.3B, revolver availability $602M, cash $10M, and extended weighted‑average debt maturity to nearly 5 years).Apple Hospitality REIT Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.44B | 1.41B | 1.43B | 1.34B | 1.24B | 933.87M |
| Gross Profit | 467.49M | 90.08M | 509.21M | 483.77M | 455.03M | 319.71M |
| EBITDA | 414.07M | 458.45M | 483.36M | 430.72M | 388.18M | 271.51M |
| Net Income | 175.27M | 175.36M | 214.06M | 177.49M | 144.81M | 18.83M |
Balance Sheet | ||||||
| Total Assets | 4.87B | 4.90B | 4.97B | 4.94B | 4.77B | 4.79B |
| Cash, Cash Equivalents and Short-Term Investments | 10.15M | 39.42M | 10.25M | 10.29M | 4.08M | 3.28M |
| Total Debt | 112.36M | 1.77B | 1.58B | 1.48B | 1.48B | 1.55B |
| Total Liabilities | 1.73B | 1.75B | 1.70B | 1.61B | 1.59B | 1.64B |
| Stockholders Equity | 3.14B | 3.15B | 3.27B | 3.32B | 3.18B | 3.15B |
Cash Flow | ||||||
| Free Cash Flow | 336.11M | 282.81M | 325.01M | 326.98M | 309.07M | 199.25M |
| Operating Cash Flow | 386.11M | 370.22M | 405.35M | 399.04M | 368.45M | 217.56M |
| Investing Cash Flow | -136.93M | -135.38M | -215.71M | -364.63M | -135.91M | -150.68M |
| Financing Cash Flow | -272.06M | -239.49M | -189.19M | -34.31M | -228.97M | -61.30M |
Apple Hospitality REIT Technical Analysis
Positive
16.77
Price Trends
16.34
Negative
14.68
Positive
13.08
Positive
Market Momentum
-0.13
Positive
46.45
Neutral
20.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For APLE, the sentiment is Positive. The current price of 16.77 is above the 20-day moving average (MA) of 16.40, above the 50-day MA of 16.34, and above the 200-day MA of 13.08, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 46.45 is Neutral, neither overbought nor oversold. The STOCH value of 20.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for APLE.
Apple Hospitality REIT Risk Analysis
Apple Hospitality REIT disclosed 38 risk factors in its most recent earnings report. Apple Hospitality REIT reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Apple Hospitality REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $3.79B | 21.72 | 5.56% | 5.72% | 1.17% | -1.97% | |
73 Outperform | $2.54B | 16.92 | 10.27% | 3.27% | 1.03% | 159.56% | |
68 Neutral | $2.06B | -27.24 | -1.90% | 0.21% | 2.08% | -25.62% | |
67 Neutral | $2.03B | 44.36 | 2.76% | 3.07% | 7.28% | 945.58% | |
66 Neutral | $3.05B | -18.46 | -5.14% | 6.78% | -1.36% | -405.10% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | $1.77B | -256.15 | -0.62% | 2.61% | 1.65% | -112.43% |
* Real Estate Sector Average
APLE
Apple Hospitality REIT
16.07
4.72
41.55%
DRH
Diamondrock
12.36
4.72
61.84%
SHO
Sunstone Hotel
10.94
2.25
25.89%
PEB
Pebblebrook Hotel
18.25
8.32
83.81%
XHR
Xenia Hotels & Resorts
19.16
6.49
51.18%
PK
Park Hotels & Resorts
15.13
5.03
49.73%
Apple Hospitality REIT Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Apple Hospitality REIT Updates Investor Presentation and Outlook
Positive
Aug 10, 2026
On August 10, 2026, Apple Hospitality REIT made available on its website an updated investor presentation for use at upcoming conferences and meetings, providing operating statistics for July 2026 and refreshed detail on its hotel portfolio and fi...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Apple Hospitality REIT Updates Equity Distribution Agreement Agents
Neutral
Aug 6, 2026
On August 6, 2026, Apple Hospitality REIT amended its existing equity distribution agreement, originally dated February 23, 2024 and previously amended on February 25, 2025, to continue allowing sales of up to $500 million of its common shares thr...
Business Operations and StrategyPrivate Placements and Financing
Apple Hospitality REIT Expands and Extends Credit Facilities
Positive
Jul 28, 2026
Apple Hospitality REIT has completed a series of refinancing transactions, announced on July 28, 2026, that amend and restate its unsecured credit facilities, increase borrowing capacity and extend debt maturities. The company’s main credit ...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Apple Hospitality REIT Updates Investor Presentation and Outlook
Positive
Jun 15, 2026
On June 15, 2026, Apple Hospitality REIT made an updated investor presentation available on its website for use at upcoming conferences and meetings, providing recent operating statistics for May and June 2026 and refreshed disclosures on its port...
Executive/Board Changes
Apple Hospitality REIT Consolidates Financial and Accounting Leadership
Neutral
Jun 10, 2026
On June 10, 2026, Apple Hospitality REIT appointed Senior Vice President and Chief Financial Officer Elizabeth S. Perkins to also serve as the company’s principal accounting officer, consolidating key finance and accounting responsibilities ...
Business Operations and StrategyFinancial Disclosures
Apple Hospitality REIT Highlights Portfolio Scale and 2025 Performance
Positive
May 29, 2026
On May 29, 2026, Apple Hospitality REIT published an updated investor presentation on its website for use at upcoming conferences, highlighting recent operating statistics and the scope of its U.S. hotel portfolio. The materials underscore the REI...
Executive/Board ChangesStock BuybackShareholder Meetings
Apple Hospitality REIT Extends Share Repurchase Program Authorization
Positive
May 27, 2026
At its annual meeting held on May 22, 2026, Apple Hospitality REIT shareholders elected eight directors to one-year terms expiring at the 2027 annual meeting and approved, on an advisory basis, the compensation of the company’s named executi...
Business Operations and StrategyDividendsFinancial Disclosures
Apple Hospitality REIT Highlights Updated Investor Presentation Strengths
Positive
May 11, 2026
Apple Hospitality REIT on May 11, 2026 released an updated investor presentation highlighting its scale, balance sheet and recent performance, including $1.4 billion in comparable hotels revenue for the twelve months ended March 31, 2026 and a 33....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.