Apple Hospitality REIT (APLE)
Market Price (10/20/2026): $17.2 | Market Cap: $4.1 BilSector: Real Estate | Industry: Hotel & Resort REITs
Apple Hospitality REIT (APLE)
Market Price (10/20/2026): $17.2Market Cap: $4.1 BilSector: Real EstateIndustry: Hotel & Resort REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.9%, Dividend Yield is 5.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.5%, FCF Yield is 7.1% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% Low stock price volatilityVol 12M is 22% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Hospitality & Hotel Investment, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% Weak multi-year price returns3Y Excs Rtn is -40% | Key risksAPLE key risks include [1] refinancing challenges tied to its substantial debt and short-term maturities, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.9%, Dividend Yield is 5.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.5%, FCF Yield is 7.1% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Hospitality & Hotel Investment, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Weak multi-year price returns3Y Excs Rtn is -40% |
| Key risksAPLE key risks include [1] refinancing challenges tied to its substantial debt and short-term maturities, Show more. |
Qualitative Assessment
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Apple Hospitality REIT (APLE) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings Beat: Apple Hospitality REIT reported robust financial results for its fiscal Q2 2026 (ended June 30, 2026), released on August 5, 2026. The company posted adjusted earnings per share (EPS) of $0.28, surpassing analyst estimates of $0.27 by $0.01. Revenue also exceeded expectations, reaching $402.55 million against a forecast of $389.99 million, representing a 3.2% beat.
2. Solid Operational Performance and Improved Outlook: The strong Q2 2026 performance was driven by a 5.3% increase in comparable-hotel revenue per available room (RevPAR) to $136, alongside a 130 basis point rise in occupancy to 80.1%. The company also experienced a 120 basis point expansion in its adjusted EBITDA margin to 38.1%. Management further boosted investor confidence by updating its full-year 2026 guidance, projecting comparable hotels RevPAR change between 2.25% and 4.25%.
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Apple Hospitality REIT (APLE) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Earnings Beat: Apple Hospitality REIT reported robust financial results for its fiscal Q2 2026 (ended June 30, 2026), released on August 5, 2026. The company posted adjusted earnings per share (EPS) of $0.28, surpassing analyst estimates of $0.27 by $0.01. Revenue also exceeded expectations, reaching $402.55 million against a forecast of $389.99 million, representing a 3.2% beat.
2. Solid Operational Performance and Improved Outlook: The strong Q2 2026 performance was driven by a 5.3% increase in comparable-hotel revenue per available room (RevPAR) to $136, alongside a 130 basis point rise in occupancy to 80.1%. The company also experienced a 120 basis point expansion in its adjusted EBITDA margin to 38.1%. Management further boosted investor confidence by updating its full-year 2026 guidance, projecting comparable hotels RevPAR change between 2.25% and 4.25%.
3. Positive Sector Sentiment and Strong Q3 2026 Expectations: The broader hospitality real estate investment trust (REIT) sector showed an improving outlook during fiscal Q3 2026, with the Hospitality Investor Sentiment Index rebounding from 46.6 to 56.4. Analysts expect hotel stocks, particularly REITs like Apple Hospitality, to deliver strong fiscal Q3 2026 results driven by continued RevPAR growth, with Truist forecasting 6-8% RevPAR growth for mid and upper-end U.S. hotels in fiscal Q4 2026. This positive sector-wide sentiment, coupled with APLE's exposure to outperforming domestic upper upscale and luxury segments, has contributed to its stock appreciation.
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Stock Movement Drivers
Fundamental Drivers
The 3.8% change in APLE stock from 6/30/2026 to 10/19/2026 was primarily driven by a 1.8% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.57 | 17.20 | 3.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,422 | 1,441 | 1.3% |
| Net Income Margin (%) | 12.1% | 12.2% | 0.7% |
| P/E Multiple | 22.8 | 23.2 | 1.8% |
| Shares Outstanding (Mil) | 236 | 236 | 0.0% |
| Cumulative Contribution | 3.8% |
Market Drivers
6/30/2026 to 10/19/2026| Return | Correlation | |
|---|---|---|
| APLE | 3.8% | |
| Market (SPY) | 2.6% | 20.2% |
| Sector (XLRE) | -5.4% | 30.6% |
Fundamental Drivers
The 54.1% change in APLE stock from 3/31/2026 to 10/19/2026 was primarily driven by a 54.0% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.16 | 17.20 | 54.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,412 | 1,441 | 2.0% |
| Net Income Margin (%) | 12.4% | 12.2% | -2.0% |
| P/E Multiple | 15.0 | 23.2 | 54.0% |
| Shares Outstanding (Mil) | 236 | 236 | 0.1% |
| Cumulative Contribution | 54.1% |
Market Drivers
3/31/2026 to 10/19/2026| Return | Correlation | |
|---|---|---|
| APLE | 54.1% | |
| Market (SPY) | 18.2% | 31.4% |
| Sector (XLRE) | 3.0% | 43.0% |
Fundamental Drivers
The 53.8% change in APLE stock from 9/30/2025 to 10/19/2026 was primarily driven by a 57.8% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.18 | 17.20 | 53.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,424 | 1,441 | 1.2% |
| Net Income Margin (%) | 12.7% | 12.2% | -4.3% |
| P/E Multiple | 14.7 | 23.2 | 57.8% |
| Shares Outstanding (Mil) | 238 | 236 | 0.6% |
| Cumulative Contribution | 53.8% |
Market Drivers
9/30/2025 to 10/19/2026| Return | Correlation | |
|---|---|---|
| APLE | 53.8% | |
| Market (SPY) | 16.0% | 36.0% |
| Sector (XLRE) | 1.5% | 47.5% |
Fundamental Drivers
The 38.6% change in APLE stock from 9/30/2023 to 10/19/2026 was primarily driven by a 30.2% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10192026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.41 | 17.20 | 38.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,313 | 1,441 | 9.7% |
| Net Income Margin (%) | 12.2% | 12.2% | 0.1% |
| P/E Multiple | 17.8 | 23.2 | 30.2% |
| Shares Outstanding (Mil) | 229 | 236 | -3.0% |
| Cumulative Contribution | 38.6% |
Market Drivers
9/30/2023 to 10/19/2026| Return | Correlation | |
|---|---|---|
| APLE | 38.6% | |
| Market (SPY) | 85.5% | 57.9% |
| Sector (XLRE) | 34.4% | 54.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| APLE Return | 25% | 2% | 12% | -1% | -17% | 51% | 80% |
| Peers Return | 17% | -19% | 28% | 4% | -8% | 43% | 67% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| APLE Win Rate | 50% | 42% | 58% | 50% | 50% | 60% | |
| Peers Win Rate | 47% | 40% | 55% | 47% | 48% | 76% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| APLE Max Drawdown | -14% | -24% | -23% | -17% | -32% | -10% | |
| Peers Max Drawdown | -25% | -32% | -23% | -20% | -32% | -15% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HST, RHP, PK, SHO, XHR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/19/2026 (YTD)
How Low Can It Go
| Event | APLE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.8% | -18.8% |
| % Gain to Breakeven | 42.4% | 23.1% |
| Time to Breakeven | 393 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.8% | -6.7% |
| % Gain to Breakeven | 26.3% | 7.1% |
| Time to Breakeven | 225 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.5% | -24.5% |
| % Gain to Breakeven | 15.6% | 32.4% |
| Time to Breakeven | 22 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -67.5% | -33.7% |
| % Gain to Breakeven | 208.0% | 50.9% |
| Time to Breakeven | 342 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.3% | -19.2% |
| % Gain to Breakeven | 23.9% | 23.8% |
| Time to Breakeven | 102 days | 105 days |
In The Past
Apple Hospitality REIT's stock fell -29.8% during the 2025 US Tariff Shock. Such a loss loss requires a 42.4% gain to breakeven.
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Asset Allocation
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| Event | APLE | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -29.8% | -18.8% |
| % Gain to Breakeven | 42.4% | 23.1% |
| Time to Breakeven | 393 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.8% | -6.7% |
| % Gain to Breakeven | 26.3% | 7.1% |
| Time to Breakeven | 225 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -67.5% | -33.7% |
| % Gain to Breakeven | 208.0% | 50.9% |
| Time to Breakeven | 342 days | 140 days |
In The Past
Apple Hospitality REIT's stock fell -29.8% during the 2025 US Tariff Shock. Such a loss loss requires a 42.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Apple Hospitality REIT (APLE)
Apple Hospitality REIT (APLE) is a real estate investment trust (REIT) that specializes in owning a large portfolio of upscale, rooms-focused hotels across the United States. As a REIT, its core business involves acquiring, holding, and managing these hotel properties, generating revenue primarily from the operations of these hospitality assets. The company's portfolio is substantial, comprising 235 hotels with over 30,000 guest rooms, strategically located in 87 markets throughout 34 states.
The primary service offered by Apple Hospitality REIT's properties is temporary lodging and accommodation for travelers. These hotels cater to a wide range of guests, including business professionals, leisure tourists, and other individuals seeking quality lodging. A distinctive feature of its strategy is the concentration on widely recognized, industry-leading hotel brands, with the majority of its portfolio consisting of Marriott-branded and Hilton-branded hotels, supplemented by a few Hyatt-branded and independent properties. This focus ensures strong brand appeal and leverages established reservation systems to serve its diverse customer base across the U.S. market.
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Here are 1-3 brief analogies for Apple Hospitality REIT (APLE):
- It's like the Simon Property Group for hotels.
- It's like Prologis for hotels.
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- Hotel Accommodations: Providing guest rooms and associated hospitality services for travelers and visitors across its portfolio of upscale, rooms-focused hotels.
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Apple Hospitality REIT (APLE) is a real estate investment trust that owns and invests in a portfolio of upscale, rooms-focused hotels. As such, its revenue is generated from guests staying at these hotels, meaning it primarily serves individuals rather than selling to other companies in a traditional B2B model.
The primary categories of customers that Apple Hospitality REIT's hotels serve are:
- Leisure Travelers: This segment includes individuals and families traveling for personal reasons such as vacations, tourism, holidays, or visiting friends and relatives. These guests seek comfortable and convenient accommodation for their recreational or personal trips.
- Business Travelers: This category comprises individuals traveling for work-related purposes, including corporate meetings, conferences, training, project work, or sales trips. Business travelers often prioritize amenities like Wi-Fi, business centers, and convenient locations.
- Group Bookings and Events: While often coordinated by organizations (e.g., corporations, associations, government agencies, sports teams, or wedding planners), the ultimate customers are individuals attending conventions, corporate retreats, social gatherings, weddings, or other organized events that require multiple hotel rooms and sometimes meeting spaces.
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- Marriott International, Inc. (MAR)
- Hilton Worldwide Holdings Inc. (HLT)
- Hyatt Hotels Corporation (H)
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Justin G. Knight, Chief Executive Officer
Mr. Knight joined the Apple REIT Companies in 2000 and has served as Chief Executive Officer of Apple Hospitality REIT since May 2014. He previously served as President of the Company and each of the former Apple REIT Companies (except Apple Suites), until those entities were sold to a third party or merged with the Company. His career at Apple Hospitality REIT and its predecessor entities demonstrates a pattern of managing companies that were involved in strategic portfolio transactions, including sales and mergers.
Elizabeth S. Perkins, Senior Vice President and Chief Financial Officer
Ms. Perkins joined the Apple REIT Companies in 2006 and has served as Senior Vice President and Chief Financial Officer for Apple Hospitality REIT since April 1, 2020. She began her career with the Apple REIT Companies as an Asset Manager and held various management and senior management roles, including Senior Vice President of Corporate Strategy and Reporting, prior to her promotion to CFO. Her prior experience includes serving as an assurance associate with Ernst & Young LLP.
Nelson G. Knight, President, Real Estate and Investments
Mr. Knight joined the Apple REIT Companies in 2005 and currently serves as President, Real Estate and Investments. He previously served as Executive Vice President and Chief Investment Officer since May 2014 and held various other senior management positions within the Company and its former predecessor Apple REIT Companies. He oversees the Company's capital deployment strategies.
Karen Catherine Gallagher, Senior Vice President and Chief Operating Officer
Ms. Gallagher joined the Apple REIT Companies in 2003 and currently serves as Senior Vice President and Chief Operating Officer. She began her career with the Apple REIT Companies as a senior asset manager and has held various management and senior management roles since 2005. Her previous experience includes serving as a senior assurance associate with Ernst & Young LLP.
Rachel S. Labrecque, Senior Vice President and Chief Accounting Officer
Ms. Labrecque joined the Apple REIT Companies in 2015 and currently serves as Senior Vice President and Chief Accounting Officer. She began her career with the Apple REIT Companies as a Director of Accounting and has since held various management and senior management roles. Ms. Labrecque previously served as Senior Vice President of Finance and Corporate Controller with Bowlero Corporation (formerly BowlmorAMF Corporation).
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The key risks to Apple Hospitality REIT (APLE) primarily revolve around the cyclical nature of the hospitality industry, escalating operational expenses, and the impact of interest rate fluctuations.
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Economic Downturns and Cyclicality of the Hospitality Industry: The demand for hotel rooms is highly susceptible to the overall health of the economy. Economic downturns can lead to significant reductions in travel, resulting in lower occupancy rates, decreased revenue per available room (RevPAR), and ultimately, a negative impact on the company's cash flow.
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Rising Operational Costs and Labor Challenges: Apple Hospitality REIT faces ongoing pressure from increasing operational expenses. These include, but are not limited to, labor costs, utility expenses, and insurance premiums. Such rising costs can erode profit margins and negatively affect the company's overall financial performance.
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Interest Rate Volatility and Refinancing Risk: As a real estate investment trust, APLE utilizes debt to finance its portfolio. Fluctuations in interest rates directly influence borrowing costs, and rising rates can increase the company's cost of capital. Furthermore, the need to refinance existing debt, particularly with relatively short maturity periods, exposes the company to the risk of higher interest expenses in the future.
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The addressable market for Apple Hospitality REIT's main products and services, upscale rooms-focused hotels, within the United States, is estimated to be approximately $160.56 billion in 2024.
This figure is derived from the overall U.S. hotel market, which was estimated at $263.21 billion in 2024. The luxury and upscale segment of this market accounted for approximately 61% of the total in 2024.
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For Apple Hospitality REIT (APLE), the following are expected drivers of future revenue growth over the next 2-3 years:
- Improvements in Revenue Per Available Room (RevPAR): A primary driver of revenue growth for Apple Hospitality REIT will be continued enhancements in its RevPAR, which is a key metric combining both occupancy rates and the average daily rate (ADR) achieved by its hotels. While the company has provided a 2026 outlook for comparable hotels RevPAR change to be between negative 1% and positive 1%, analysts anticipate overall annual revenue growth for APLE to outpace the US REIT - Hotel & Motel industry average over the next 2-3 years, indicating an expected uplift in this core performance indicator.
- Strategic Capital Investments and Renovations: Apple Hospitality REIT's ongoing investment in its existing portfolio through strategic capital expenditures and renovations is expected to drive future revenue. These improvements aim to enhance the guest experience, maintain competitiveness, and support higher average daily rates, thereby contributing to increased revenue. For example, the company has planned renovations for approximately 21 hotels.
- Continued Recovery and Growth in Business and Leisure Travel Demand: The broader recovery and sustained growth in both leisure and business travel are significant external drivers for APLE's revenue. A shift in consumer sentiment favoring travel and experiences, coupled with projections for growth in business travel volumes and room rates, suggests a favorable environment for increased hotel demand and occupancy across the company's diverse portfolio.
- Optimized Portfolio Performance through Brand Strength and Operational Efficiencies: Leveraging its portfolio concentrated with industry-leading brands like Marriott and Hilton, along with strategic operational optimizations, will be crucial for revenue growth. Efforts such as maximizing top-line performance and carefully managing expenses to preserve margins, as well as transitions of hotel management models for improved synergies and cost savings, are expected to contribute to overall portfolio performance and revenue generation.
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Share Repurchases
- Apple Hospitality REIT completed approximately $58.3 million worth of share repurchases in 2025, representing 4.6 million common shares.
- As of May 19, 2025, the company's share repurchase program was extended until July 2026, with up to $262.6 million authorized for future repurchases. Approximately $257.6 million remained under this program as of June 30, 2025.
- In the second quarter of 2024, the company repurchased 1.1 million common shares for $15.5 million.
Share Issuance
- As of June 30, 2025, Apple Hospitality had $500 million remaining under its at-the-market offering program for the issuance of shares, though no shares were sold under this program during the first six months of 2025.
Outbound Investments
- In 2025, Apple Hospitality acquired two hotels for a combined purchase price of approximately $117 million.
- During the second quarter of 2024, the company acquired the newly built Embassy Suites by Hilton Madison Downtown for approximately $79.5 million.
- The company sold seven hotels in 2025 for a combined gross sales price of approximately $73 million. Additionally, in the first six months of 2024, three hotels were sold for a combined gross sales price of approximately $40.6 million.
Capital Expenditures
- Apple Hospitality REIT invested more than $88 million in capital improvements during 2025.
- For 2024, capital expenditures were anticipated to be between $75 million and $85 million.
- The company anticipates investing approximately $80 million to $90 million in capital improvements during 2026, primarily focused on comprehensive renovation projects for about 21 hotels.
Peer Outperformance in Hotel & Resort REITs
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| APLE | Apple Hospitality REIT | 3.1% | 23.2x | 59.9% | 37.0% | 48.0% | — |
| HST | Host Hotels & Resorts | 6.0% | 16.1x | 60.3% | 88.1% | 86.8% | +39pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 11.8% | 57.9% | 51.2% | WELL 213% · CTRE 115% · OHI 112% |
| Retail REITs | 22 | 7.6% | 38.3% | 25.2% | SKT 147% · SPG 85% · MAC 55% |
| Other Specialized REITs | 11 | 3.1% | 21.5% | 9.8% | IRM 200% · LAMR 64% · OUT 61% |
| Real Estate Development | 6 | -18.7% | 13.1% | 8.8% | JOE 61% |
| Hotel & Resort REITs ← | 16 | 51.0% | 46.1% | 6.0% | HST 87% · RHP 77% · DRH 61% |
| Industrial REITs | 11 | 3.1% | 33.4% | -5.5% | EGP 25% · FR 17% · TRNO 6% |
| Diversified REITs | 13 | 3.9% | 29.6% | -17.3% | WPC 13% · EPRT 9% · LXP 7% |
| Single-Family Residential REITs | 4 | -1.8% | 2.5% | -18.8% | AMH -10% · ELS -17% · INVH -21% |
| Multi-Family Residential REITs | 13 | -5.7% | 6.7% | -25.0% | ESS -3% · VMRK -11% · IRT -19% |
| Real Estate Services | 25 | -27.8% | -6.0% | -35.9% | CBRE 28% · JLL 20% · NMRK -18% |
| Office REITs | 18 | -12.4% | 25.6% | -36.3% | CDP 45% · HIW -11% · CUZ -13% |
| Telecom Tower REITs | 3 | -4.3% | 10.6% | -39.9% | AMT -21% · CCI -40% · SBAC -40% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 18.18 |
| Mkt Cap | 3.6 |
| Rev LTM | 1,991 |
| Op Inc LTM | 280 |
| FCF LTM | 237 |
| FCF 3Y Avg | 208 |
| CFO LTM | 395 |
| CFO 3Y Avg | 410 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.3% |
| Rev Chg 3Y Avg | 2.4% |
| Rev Chg Q | 4.1% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Inc Chg LTM | 11.2% |
| Op Inc Chg 3Y Avg | 1.7% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 12.7% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 22.5% |
| CFO/Rev 3Y Avg | 21.8% |
| FCF/Rev LTM | 13.5% |
| FCF/Rev 3Y Avg | 12.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.6 |
| P/S | 2.4 |
| P/Op Inc | 15.8 |
| P/EBIT | 18.7 |
| P/E | 19.7 |
| P/CFO | 10.4 |
| Total Yield | 6.7% |
| Dividend Yield | 3.9% |
| FCF Yield 3Y Avg | 6.5% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single segment | 1,412 | 1,431 | 1,344 | 1,238 | |
| Food and beverage | 22 | ||||
| Other | 40 | ||||
| Room | 871 | ||||
| Total | 1,412 | 1,431 | 1,344 | 1,238 | 934 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Single segment | 477 | 510 | 482 |
| Gain on sale of real estate | 13 | 20 | |
| Other segment items | -1 | -0 | 2 |
| Impairment of depreciable real estate | -6 | -3 | -6 |
| General and administrative | -32 | -43 | -47 |
| Depreciation and amortization | -193 | -191 | -183 |
| Total | 258 | 293 | 247 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Single segment | 175 | 214 | 177 |
| Total | 175 | 214 | 177 |
Price Behavior
| Market Price | $17.20 | |
| Market Cap ($ Bil) | 4.1 | |
| First Trading Date | 05/18/2015 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $16.00 | $14.07 |
| DMA Trend | down | up |
| Distance from DMA | 7.5% | 22.3% |
| 3M | 1YR | |
| Volatility | 20.1% | 22.0% |
| Downside Capture | 71.95 | 44.82 |
| Upside Capture | 71.38 | 91.91 |
| Correlation (S&P 500) | 14.8% | 36.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.42 | 0.35 | 0.40 | 0.57 | 0.62 | 0.96 |
| Up Beta | -0.32 | -0.32 | -0.51 | 0.41 | 0.56 | 1.17 |
| Down Beta | 0.98 | -0.90 | -0.08 | 0.27 | 0.64 | 0.89 |
| Up Capture | 38% | 60% | 68% | 101% | 74% | 54% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 11 | 22 | 32 | 71 | 129 | 370 |
| Down Capture | 56% | 87% | 95% | 36% | 54% | 97% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 11 | 19 | 31 | 53 | 118 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with APLE | |
|---|---|---|---|---|
| APLE | 60.8% | 22.0% | 2.06 | - |
| Sector ETF (XLRE) | 2.4% | 14.2% | -0.07 | 47.0% |
| Equity (SPY) | 17.1% | 12.7% | 0.95 | 36.0% |
| Gold (GLD) | -4.2% | 29.3% | -0.15 | 15.4% |
| Commodities (DBC) | 52.6% | 20.7% | 1.93 | -26.9% |
| Real Estate (VNQ) | 3.9% | 13.7% | 0.03 | 52.0% |
| Bitcoin (BTCUSD) | -24.8% | 43.7% | -0.53 | 15.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with APLE | |
|---|---|---|---|---|
| APLE | 7.5% | 26.8% | 0.26 | - |
| Sector ETF (XLRE) | 1.9% | 19.1% | -0.01 | 56.2% |
| Equity (SPY) | 13.5% | 17.1% | 0.60 | 61.3% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 8.2% |
| Commodities (DBC) | 9.8% | 19.5% | 0.38 | 12.3% |
| Real Estate (VNQ) | 1.3% | 18.8% | -0.04 | 61.5% |
| Bitcoin (BTCUSD) | 7.2% | 51.8% | 0.32 | 29.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with APLE | |
|---|---|---|---|---|
| APLE | 5.0% | 34.6% | 0.23 | - |
| Sector ETF (XLRE) | 6.5% | 20.4% | 0.27 | 56.2% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 56.9% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 7.1% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 21.9% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 63.8% |
| Bitcoin (BTCUSD) | 63.0% | 66.2% | 1.03 | 19.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -3.4% | -5.0% | -5.4% |
| 5/4/2026 | 3.4% | 4.8% | 16.0% |
| 2/23/2026 | -0.5% | 1.4% | -3.1% |
| 11/3/2025 | -2.1% | 3.7% | 2.1% |
| 8/6/2025 | 1.6% | 8.2% | 13.3% |
| 5/1/2025 | 0.2% | -0.9% | 0.1% |
| 2/24/2025 | -1.6% | 0.2% | -9.1% |
| 11/4/2024 | 0.2% | 8.6% | 9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 14 | 16 |
| # Negative | 12 | 10 | 8 |
| Median Positive | 0.9% | 2.4% | 2.5% |
| Median Negative | -1.7% | -2.2% | -4.8% |
| Max Positive | 3.4% | 8.6% | 16.0% |
| Max Negative | -5.5% | -6.8% | -14.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -3.4% | -5.0% | -5.4% |
| 5/4/2026 | 3.4% | 4.8% | 16.0% |
| 2/23/2026 | -0.5% | 1.4% | -3.1% |
| 11/3/2025 | -2.1% | 3.7% | 2.1% |
| 8/6/2025 | 1.6% | 8.2% | 13.3% |
| 5/1/2025 | 0.2% | -0.9% | 0.1% |
| 2/24/2025 | -1.6% | 0.2% | -9.1% |
| 11/4/2024 | 0.2% | 8.6% | 9.8% |
| 8/5/2024 | 0.5% | -1.9% | 1.4% |
| 5/6/2024 | 0.4% | 0.6% | -2.8% |
| 2/22/2024 | -0.1% | -0.6% | 1.8% |
| 11/7/2023 | -5.5% | 0.4% | 1.9% |
| 8/3/2023 | 2.1% | 2.6% | 2.7% |
| 5/2/2023 | 2.8% | 5.7% | 1.2% |
| 2/21/2023 | -0.4% | -0.5% | -14.8% |
| 11/7/2022 | -2.7% | -0.1% | 2.8% |
| 8/4/2022 | -1.5% | 1.0% | -6.7% |
| 5/5/2022 | 0.0% | -4.4% | 2.3% |
| 2/22/2022 | -1.9% | 2.3% | 3.0% |
| 11/4/2021 | 1.3% | -2.6% | -4.2% |
| 8/5/2021 | 0.5% | 0.7% | 1.8% |
| 5/6/2021 | 1.3% | -3.5% | 4.6% |
| 2/23/2021 | -0.3% | -6.8% | -2.3% |
| 11/5/2020 | -1.7% | 4.8% | 15.9% |
| SUMMARY STATS | |||
| # Positive | 12 | 14 | 16 |
| # Negative | 12 | 10 | 8 |
| Median Positive | 0.9% | 2.4% | 2.5% |
| Median Negative | -1.7% | -2.2% | -4.8% |
| Max Positive | 3.4% | 8.6% | 16.0% |
| Max Negative | -5.5% | -6.8% | -14.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/05/2026 | 10-Q |
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/01/2025 | 10-Q |
| 12/31/2024 | 02/24/2025 | 10-K |
| 09/30/2024 | 11/04/2024 | 10-Q |
| 06/30/2024 | 08/05/2024 | 10-Q |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/22/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/18/2020 | 10-Q |
| 12/31/2019 | 02/24/2020 | 10-K |
| 09/30/2019 | 11/04/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable Hotels RevPAR Change | Reported | 0.02 | 0.03 | 0.04 | 2.2% | Raised | Guidance: 0.01 for 2026 | |
| 2026 Comparable Hotels Adjusted Hotel EBITDA Margin % | Reported | 33.7% | 34.2% | 34.7% | 0.8% | Raised | Guidance: 33.4% for 2026 | |
| 2026 Adjusted EBITDAre | Reported | 453.00 Mil | 464.50 Mil | 476.00 Mil | 3.9% | Raised | Guidance: 447.00 Mil for 2026 | |
| 2026 Net income | Reported | 152.00 Mil | 166.00 Mil | 180.00 Mil | 6.4% | Raised | Guidance: 156.00 Mil for 2026 | |
| 2026 Capital expenditures | Reported | 85.00 Mil | 90.00 Mil | 95.00 Mil | 5.9% | Raised | Guidance: 85.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/4/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable Hotels RevPAR Change | Reported | 0 | 0.01 | 0.02 | 1.0% | Raised | Guidance: 0 for 2026 | |
| 2026 Comparable Hotels Adjusted Hotel EBITDA Margin % | Reported | 32.9% | 33.4% | 33.9% | 0.5% | Raised | Guidance: 32.9% for 2026 | |
| 2026 Adjusted EBITDAre | Reported | 436.00 Mil | 447.00 Mil | 458.00 Mil | 2.6% | Raised | Guidance: 435.50 Mil for 2026 | |
| 2026 Net Income | Reported | 143.00 Mil | 156.00 Mil | 169.00 Mil | 6.5% | Raised | Guidance: 146.50 Mil for 2026 | |
| 2026 Capital Expenditures | Reported | 80.00 Mil | 85.00 Mil | 90.00 Mil | 0.0% | Affirmed | Guidance: 85.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable Hotels RevPAR Change | Reported | -0.01 | 0 | 0.01 | 1.5% | Raised | Guidance: -0.02 for 2025 | |
| 2026 Comparable Hotels Adjusted Hotel EBITDA Margin % | Reported | 32.4% | 32.9% | 33.4% | -1.3% | Lowered | Guidance: 34.2% for 2025 | |
| 2026 Adjusted EBITDAre | Reported | 424.00 Mil | 435.50 Mil | 447.00 Mil | -0.9% | Lowered | Guidance: 439.50 Mil for 2025 | |
| 2026 Net Income | Reported | 133.00 Mil | 146.50 Mil | 160.00 Mil | -13.1% | Lowered | Guidance: 168.50 Mil for 2025 | |
| 2026 Capital Expenditures | Reported | 80.00 Mil | 85.00 Mil | 90.00 Mil | 0.0% | Affirmed | Guidance: 85.00 Mil for 2025 | |
Q3 2025 Earnings Reported 11/3/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Comparable Hotels RevPAR Change | Reported | -0.02 | -0.02 | -0.01 | -1.0% | Lowered | Guidance: -0.01 for 2025 | |
| 2025 Comparable Hotels Adjusted Hotel EBITDA Margin % | Reported | 33.9% | 34.2% | 34.5% | 0.2% | Raised | Guidance: 34.0% for 2025 | |
| 2025 Adjusted EBITDAre | Reported | 435.00 Mil | 439.50 Mil | 444.00 Mil | 0.1% | Raised | Guidance: 439.00 Mil for 2025 | |
| 2025 Net Income | Reported | 162.00 Mil | 168.50 Mil | 175.00 Mil | -3.2% | Lowered | Guidance: 174.14 Mil for 2025 | |
| 2025 Capital Expenditures | Reported | 80.00 Mil | 85.00 Mil | 90.00 Mil | 0 | Affirmed | Guidance: 85.00 Mil for 2025 | |
Insider Activity
Updated 6/3/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Knight, Glade M | Executive Chairman | Direct | Buy | 5132026 | 13.96 | 5,000 | 69,825 | 10,434,522 | Form |
| 2 | Knight, Glade M | Executive Chairman | Direct | Buy | 12122025 | 11.91 | 5,000 | 59,550 | 8,460,197 | Form |
| 3 | Hugh, Redd | Direct | Buy | 11172025 | 11.75 | 1,000 | 11,755 | 1,625,134 | Form | |
| 4 | Woolley, Howard E | Direct | Buy | 11132025 | 11.94 | 2,000 | 23,880 | 369,298 | Form | |
| 5 | Knight, Glade M | Executive Chairman | Direct | Buy | 8212025 | 12.29 | 5,000 | 61,451 | 8,668,819 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Knight, Glade M | Executive Chairman | Direct | Buy | 5132026 | 13.96 | 5,000 | 69,825 | 10,434,522 | Form |
| 2 | Knight, Glade M | Executive Chairman | Direct | Buy | 12122025 | 11.91 | 5,000 | 59,550 | 8,460,197 | Form |
| 3 | Hugh, Redd | Direct | Buy | 11172025 | 11.75 | 1,000 | 11,755 | 1,625,134 | Form | |
| 4 | Woolley, Howard E | Direct | Buy | 11132025 | 11.94 | 2,000 | 23,880 | 369,298 | Form | |
| 5 | Knight, Glade M | Executive Chairman | Direct | Buy | 8212025 | 12.29 | 5,000 | 61,451 | 8,668,819 | Form |
| 6 | Hugh, Redd | Direct | Buy | 6062025 | 11.57 | 1,000 | 11,575 | 1,588,660 | Form |
Investor Activity (13F)
Updated Oct 20, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Hotel & Resort REITs Resources |
| Hotel News Now |
| Hospitality Net |
| Lodging Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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