Apple Hospitality REIT, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Apple Hospitality REIT, Inc. on September 4, 2014. The filing addresses a corporate action approved by the Board of Directors regarding shareholder distributions.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The primary financial data point disclosed is the adjustment to the annual distribution rate.
- Previous Annual Distribution Rate: $0.66 per share
- New Annual Distribution Rate: $0.68 per share
- Effective Date: September 15, 2014 payment
- Payment Frequency: Monthly
Material Changes
The material change reported is a 3.03% increase in the annual distribution rate per share, effective with the September 15, 2014 payment. No other material changes to operations or financial position are detailed in this specific filing.
Outlook and Management Commentary
Management, represented by President and CEO Justin G. Knight, announced the distribution increase via a letter to shareholders attached as Exhibit 99.1. The filing does not contain forward-looking guidance, risk factors, or discussion of contingencies beyond the distribution announcement.
Investor Verification Checklist
- Verify the exact payment date for the September 15, 2014 distribution.
- Confirm the record date for the increased distribution rate.
- Review the attached Shareholders' Letter (Exhibit 99.1) for additional context on the Board's rationale.
- Check subsequent filings for the impact of this distribution increase on the company's cash flow and debt covenants.