Apple Hospitality Reit, Inc. shares rise 1.14% premarket after Pebblebrook Hotel Trust reports strong Q2 earnings.

Apple Hospitality Reit, Inc. rose 1.14% in premarket trading. The company's stock price increase may be attributed to the positive earnings report from Pebblebrook Hotel Trust, which reported a net income of $19.3 million and exceeded its outlook for Adjusted EBITDAre by $6.5 million. Additionally, the company's Newport Harbor Island Resort outperformed its forecast by $1.8 million, benefiting from its recent comprehensive redevelopment and luxury transformation.