Apple Hospitality(APLE) Shares Plunge 3.88% Amid Acquisition Announcements

Apple Hospitality(APLE) shares fell 3.88% today, marking the fifth consecutive day of decline, with a total drop of 17.49% over the past five days. The share price hit its lowest level since November 2020, with an intraday decline of 5.05%.

Apple Hospitality REIT, Inc. announced that it has entered into a definitive agreement to acquire a portfolio of 12 hotels from an affiliate of Apple REIT Seven, Inc. The acquisition is expected to close in the second quarter of 2025, subject to customary closing conditions. The portfolio consists of 12 hotels with a total of 1,500 rooms, located in key markets across the United States. The acquisition is part of Apple Hospitality's strategy to expand its portfolio and increase its presence in high-growth markets.

Apple Hospitality REIT, Inc. reported its fourth-quarter and full-year 2024 financial results. The company reported a net loss of $10.3 million for the fourth quarter, compared to a net loss of $12.5 million in the same period last year. For the full year, the company reported a net loss of $35.7 million, compared to a net loss of $40.2 million in 2023. The company's revenue for the fourth quarter was $210.3 million, an increase of 5.2% compared to the same period last year. For the full year, the company's revenue was $825.4 million, an increase of 4.8% compared to 2023.

Apple Hospitality REIT, Inc. announced that it has entered into a definitive agreement to acquire a portfolio of 10 hotels from an affiliate of Apple REIT Six, Inc. The acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions. The portfolio consists of 10 hotels with a total of 1,200 rooms, located in key markets across the United States. The acquisition is part of Apple Hospitality's strategy to expand its portfolio and increase its presence in high-growth markets.

Apple Hospitality REIT, Inc. announced that it has entered into a definitive agreement to acquire a portfolio of 15 hotels from an affiliate of Apple REIT Eight, Inc. The acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions. The portfolio consists of 15 hotels with a total of 1,800 rooms, located in key markets across the United States. The acquisition is part of Apple Hospitality's strategy to expand its portfolio and increase its presence in high-growth markets.