Core Insights - Apple Hospitality REIT reported revenue of 378.84millionforthequarterendedSeptember2024,markingayear−over−yearincreaseof5.80.45, compared to 0.26ayearago[1]−ThereportedrevenueexceededtheZacksConsensusEstimateof377.56 million, resulting in a surprise of +0.34% [1] Revenue Breakdown - Room revenue was 346.06million,slightlyabovetheestimated344.82 million, reflecting a +5.8% change year-over-year [3] - Other revenue was reported at 16.94million,belowtheaverageestimateof18.02 million, indicating a -3.5% year-over-year change [3] - Food and beverage revenue reached 15.84million,surpassingtheaverageestimateof14.43 million, with a year-over-year increase of +16.7% [3] Earnings Performance - The diluted net earnings per share was 0.23,slightlybelowtheaverageestimateof0.25 [3] - The company has not delivered an EPS surprise, as the consensus EPS estimate was also $0.45 [1][3] Stock Performance - Over the past month, shares of Apple Hospitality REIT have returned -3.4%, while the Zacks S&P 500 composite has seen a +0.4% change [4] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance compared to the broader market in the near term [4]
Apple Hospitality REIT(APLE) ZACKS·2024-11-05 01:00