Historical entities operating under the Apple REIT moniker (which were historically structured as non-traded real estate investment trusts managed by Apple REIT Companies and later consolidated or listed) historically utilized monthly dividend distribution models to attract retail income-seeking investors. However, modern publicly traded hospitality and commercial REITs overwhelmingly distribute cash dividends on a traditional quarterly schedule rather than monthly. Investors reviewing legacy or restructured entities should consult specific historical prospectuses or corporate filings.