Trading Day: Local SEC filings for 5.20.21
Apple Hospitality REIT (APLE)
The hotel-focused real estate investment trust filed its quarterly earnings report for the period ended March 31. The company reported a net loss of $46.4 million in its first quarter 2021, compared to a net loss of $2.8 million during the same period in the prior year.
The company recently posted an updated investor presentation to its website, which includes operating statistics for April and May. The presentation can be found here.
CarMax (KMX)
The used car retailer released its latest proxy statement, disclosing compensation packages paid last fiscal year to its top executives.
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Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced recipients of the Company’s 2020 Apple Awards. The winners were chosen for their outstanding contributions in 2020.
“We could not be more grateful for the exceptional operating teams at our hotels and their dedication to serving our guests with care during the most difficult year on record for the hotel industry,” commented Justin Knight, Chief Executive Officer of Apple Hospitality. “Last year, associates at our hotels were faced with incredibly challenging circumstances as we worked to adapt to the evolving operating environment, with many taking on additional responsibilities. We are incredibly proud of their efforts. As a result, our 2020 Apple Awards are focused solely on the associates at our hotels, recognizing several individuals nominated by their management companies and peers for their outstanding contributions to the safety, well-be
Baird/STR Hotel Stock Index rose 3.2% in April
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HENDERSONVILLE, Tennessee, and MILWAUKEE - The Baird/STR Hotel Stock Index rose 3.2% in April to a level of 5,297. Year to date through the first four months of 2021, the stock index was up 15.8%. Advertisements Hotel stock prices increased in April, but they were relative underperformers on a monthly basis for the third time this year, said Michael Bellisario, senior hotel research analyst and director at Baird. The broader reopening trade has lost some momentum recently as investors continue to rotate into more defensive and value-oriented sectors despite the progress that is being made on the vaccination front and the sequential monthly improvement in hotel fundamentals being realized. The Hotel REITs have outperformed the Hotel Brand stocks each month this year.
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The pandemic pounded hospitality properties particularly hard, and investors are eagerly watching their recovery as vaccinations in arms raise hopes for guests in rooms. There are a number of real estate investment trusts (REITs) that specialize in hotels and motels, and it’s reasonable to expect they’ll all see some positivity return to their portfolios and reports this year. But they’re not all the same.
For our purposes in this piece, let’s look at two that have what look like similar portfolios but have had quite different experiences after COVID-19 suddenly shut down business and leisure travel, which colors their prospects going forward.