December 28, 2014 3:25 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Apple REIT Ten, Inc

Company Overview

814 East Main Street

Richmond, VA 23219

United States

Founded in 2010

Phone:

804-344-8121

Key Executives for Apple REIT Ten, Inc

Chairman
Age: 70
President
Age: 41
Executive Vice President and Chief Financial Officer
Age: 49
Executive Vice President and Chief Operating Officer
Age: 41
President of Capital Markets
Age: 51
Compensation as of Fiscal Year 2014.

Apple REIT Ten, Inc Key Developments

Apple REIT Ten, Inc Announces Unaudited Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2014

Apple REIT Ten Inc. announced unaudited earnings and operating results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue was $56.79 million against $43.76 million a year ago. Net income was $13.51 million or $0.15 per share against $8.18 million or $0.11 per share a year ago. Funds from operations were $20.74 million or $0.23 per share against $13.93 million or $0.19 per share a year ago. Adjusted funds from operations were $20.75 million or $0.23 per share against $16.86 million or $0.23 per share a year ago. For the nine months, the company reported total revenue was $166.58 million against $115.57 million a year ago. Net income was $37.77 million or $0.45 per share against $20.26 million or $0.29 per share a year ago. Funds from operations were $59.005 million or $0.70 per share against $35.34 million or $0.50 per share a year ago. Adjusted funds from operations were $60.06 million or $0.71 per share against $40.24 million or $0.57 per share a year ago. For the quarter, the company reported occupancy was 77% against 74% a year ago. Average daily rate was $120 against $114 a year ago. RevPAR was $92 against $84 a year ago. Number of hotels was 49 against 43 a year ago. Distributions per share were $0.21 against $0.21 a year ago. For the nine months, the company reported occupancy was 75% against 73% a year ago. Average daily rate was $121 against $116 a year ago. RevPAR was $91 against $85 a year ago. Distributions per share were $0.62 against $0.62 a year ago.

Apple REIT Ten, Inc Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Apple REIT Ten Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenue of $59,330,000 compared to $40,942,000 a year ago. Net income was $14,849,000 or $0.18 per share compared to $9,186,000 or $0.13 per share a year ago. Adjusted funds from operations were $21,924,000 or $0.26 per share compared to $14,636,000 or $0.21 per share a year ago. For the six months period, the company reported total revenue of $109,794,000 compared to $71,808,000 a year ago. Net income was $24,257,000 or $0.30 per share compared to $12,074,000 or $0.18 per share a year ago. Adjusted funds from operations were $39,309,000 or $0.48 per share compared to $23,377,000 or $0.34 per share a year ago.

Apple REIT Ten, Inc Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

Apple REIT Ten Inc. reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenue of $50,464,000 compared with $30,866,000 for the same period last year. Net income was $9,408,000 or $0.12 per share compared with $2,888,000 $0.04 per share for the same period last year. Funds from operations was $16,377,000 or $0.20 per share compared with $7,375,000 $0.11 per share for the same period last year.

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