Apple Hospitality REIT(APLE) ZACKS·2024-11-05 01:00Core Insights - Apple Hospitality REIT reported revenue of $378.84 million for the quarter ended September 2024, marking a year-over-year increase of 5.8% [1] - The earnings per share (EPS) for the same period was $0.45, compared to $0.26 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $377.56 million, resulting in a surprise of +0.34% [1] Revenue Breakdown - Room revenue was $346.06 million, slightly above the estimated $344.82 million, reflecting a +5.8% change year-over-year [3] - Other revenue was reported at $16.94 million, below the average estimate of $18.02 million, indicating a -3.5% year-over-year change [3] - Food and beverage revenue reached $15.84 million, surpassing the average estimate of $14.43 million, with a year-over-year increase of +16.7% [3] Earnings Performance - The diluted net earnings per share was $0.23, slightly below the average estimate of $0.25 [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]