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Apple Hospitality REIT
(NYSE:APLE)
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Rating:74Outperform
Price Target:
$17.50
â–²(5.74% Upside)
Action:Reiterated
Date:09/16/26
APLE scores well primarily on strengthened financial fundamentals (low leverage and strong cash generation) and a positive, guidance-raising earnings outlook with improving liquidity. The score is held back by weaker near-term technical momentum and only moderate valuation attractiveness despite the strong dividend yield.
Positive Factors
Very low leverage
A materially lower debt burden strengthens APLE’s financial flexibility and reduces balance-sheet pressure across lodging cycles. It can support reinvestment, distributions, and selective capital allocation while limiting the exposure of cash flow to refinancing and interest-cost changes.
Negative Factors
Lodging-cycle volatility
APLE’s earnings remain sensitive to lodging demand and RevPAR conditions, as shown by uneven multi-year revenue and margin performance. This cyclicality can make operating results less predictable and may periodically constrain cash-flow growth, reinvestment capacity, or distribution growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
A materially lower debt burden strengthens APLE’s financial flexibility and reduces balance-sheet pressure across lodging cycles. It can support reinvestment, distributions, and selective capital allocation while limiting the exposure of cash flow to refinancing and interest-cost changes.
Read all positive factors
Apple Hospitality REIT (APLE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.90B
Dividend Yield5.81%
Average Volume (3M)2.39M
Price to Earnings (P/E)22.3
Beta (1Y)0.71
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. Volume2,749,166
30 Day Avg. Volume2,390,032
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 Cap1.43
Enterprise Value/Revenue3.86
Enterprise Value/Gross Profit11.90
Enterprise Value/Ebitda13.44
Forecast
1Y Price Target
$17.21Price Target Upside4.01% 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
Apple Hospitality REIT makes money primarily by owning hotel real estate and earning hotel-level operating cash flow from its properties. Its core revenue model is tied to lodging demand and hotel operating performance:
1) Hotel operating revenue...
Apple Hospitality REIT Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 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
16.55
Price Trends
15.97
Positive
15.75
Positive
13.79
Positive
Market Momentum
0.13
Negative
66.85
Neutral
86.64
Negative
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 16.55 is above the 20-day moving average (MA) of 15.75, above the 50-day MA of 15.97, and above the 200-day MA of 13.79, indicating a bullish trend. The MACD of 0.13 indicates Negative momentum. The RSI at 66.85 is Neutral, neither overbought nor oversold. The STOCH value of 86.64 is Negative, 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $3.90B | 22.31 | 5.56% | 5.81% | 1.17% | -1.97% | |
68 Neutral | $637.02M | 115.44 | 1.64% | 2.85% | -3.14% | 197.81% | |
66 Neutral | $3.13B | -18.95 | -5.14% | 6.44% | -1.36% | -405.10% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $726.94M | -26.20 | -0.84% | 5.32% | 1.24% | -143.19% | |
64 Neutral | $2.12B | 46.19 | 2.76% | 3.16% | 7.28% | 945.58% | |
62 Neutral | $1.72B | 274.33 | 1.26% | 5.35% | 1.07% | -96.66% |
* Real Estate Sector Average
APLE
Apple Hospitality REIT
16.51
5.60
51.29%
INN
Summit Hotel Properties
6.02
0.90
17.58%
SHO
Sunstone Hotel
11.39
2.49
28.04%
CLDT
Chatham Lodging
13.68
7.44
119.27%
RLJ
RLJ Lodging
11.22
4.61
69.82%
PK
Park Hotels & Resorts
15.53
5.48
54.48%
Apple Hospitality REIT Corporate Events
Business Operations and StrategyFinancial Disclosures
Apple Hospitality REIT Updates Investor Presentation and Outlook
Positive
Sep 15, 2026
On September 15, 2026, Apple Hospitality REIT made an updated investor presentation available on its website for use at upcoming conferences and meetings, providing operating statistics and financial metrics through mid and late 2026. The material...
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 ...
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.