RICHMOND, Va. (AP) 鈥� RICHMOND, Va. (AP) 鈥� Apple Hospitality REIT Inc. (APLE) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in Richmond, Virginia, said it had funds from operations of $123.4 million, or 52 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $67.1 million, or 28 cents per share.
The hotel-owning real estate investment trust posted revenue of $402.6 million in the period.
The company’s shares have risen 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.55, an increase of 41% in the last 12 months.
_____
This story was generated by (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a at https://www.zacks.com/ap/APLE
Copyright © 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
