Apple Hospitality REIT Q1 FFO $0.34 Misses $0.35 Estimate, Sales $329.51M Beat $323.08M Estimate
Portfolio Pulse from Benzinga Newsdesk
Apple Hospitality REIT reported Q1 FFO of $0.34 per share, missing the consensus estimate of $0.35, and sales of $329.51M, beating the estimate of $323.08M. Sales increased by 5.80% from the same period last year.
May 06, 2024 | 8:21 pm
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NEUTRAL IMPACT
Apple Hospitality REIT's Q1 FFO missed estimates by 2.86%, but sales exceeded expectations and grew 5.80% YOY.
The slight miss in FFO per share might concern investors, but the beat on sales and year-over-year growth is positive. The mixed results could lead to neutral short-term price movement as investors weigh the miss against the sales performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100