in january it became apparent that something was different in the hotel real estate investment trust reit subsector as stocks that had been trashed by investors throughout 2022 were suddenly springing back to life some of the stocks were up more than 27 during the month some were raising dividends for the first time in a while were these just oversold bounces or was somebody counting the cars in the parking lot and knew the hotel industry was picking up occupancy although the stocks tempered their gains somewhat in february going into earnings season they were still up quite nicely year to date here are four hotel reits that just smashed earnings estimates as well as fourthquarter 2021 operating results formed in 2007 apple hospitality reit inc aple is a richmond virginiabased hotel reit with a portfolio of approximately 29000 rooms in 220 hotels in 87 markets across 37 states its portfolio includes 96 marriotts 119 hiltons four hyatts and one independent hotel on feb 21 apple hospitality reit reported fourthquarter operating results funds from operations ffo of 033 per share beat the consensus estimate of 012 by 175 and was 2692 ahead of ffo of 026 per share in the fourth quarter of 2021 revenue of 29912 million was also ahead of the consensus of 29318 million and 1937 above 25059 million in the fourth quarter of 2021 apple hospitality reit was up 1498 in january and is up 813 year to date in 2023 pebblebrook hotel trust peb is a bethesda marylandbased hotel reit that invests in upscale hotel and resort properties in or near urban markets in major us gateway cities most of its 51 properties are in california florida and washington state on feb 21 pebblebrook hotel reported its fourthquarter operating results ffo of 020 was 003 better than estimates and up from 006 in the fourth quarter of 2021 revenue of 31961 million was ahead of estimates of 31568 million and 1143 better than revenue of 14728 million in the fourth quarter of 2021 pebblebrook hotel was up 2753 in january and is up 1384 year to date park hotels  resorts inc pk is a tysons virginiabased hotel reit with 46 premium brand hotels and resorts across 14 of the top 25 markets in the united states its affiliates include hilton marriott and hyatt on feb 22 park hotels  resorts reported fourthquarter operating results ffo of 045 per share was well above the consensus estimate of 009 and ffo of 005 in the fourth quarter of 2021 revenue of 665 million beat estimates of 64979 million and far exceeded revenue of 451 million in the fourth quarter of 2021 park hotels was up 2780 in january and is up 1729 yeartodate in december it raised its quarterly dividend up from 001 to 025 sunstone hotel investors inc sho is an aliso viejo californiabased hotel reit that owns and operates 15 hotels in upscale areas of florida california hawaii three other states and washington dc its portfolio includes hotels by hilton hyatt marriott and four seasons on feb 22 sunstone hotel investors reported fourthquarter operating results ffo of 026 beat the estimates of 019 and was a huge increase over ffo of 009 in the fourth quarter of 2021 revenue of 24414 million was ahead of the consensus of 22751 million and a 404 increase over revenue of 17389 million in the fourth quarter of 2021 sunstone hotel investors was up 2787 in january and year to date is up 1749 the chart below summarizes the four hotel reits earnings and revenue for the fourth quarter of 2022 it’s clear that hotel reits’ earnings are back and these reits could continue doing well for the remainder of 2023 weekly reit report reits are one of the most misunderstood investment options making it difficult for investors to spot incredible opportunities until it’s too late benzinga’s inhouse real estate research team has been working hard to identify the greatest opportunities in today’s market which you can gain access to for free by signing up for benzinga’s weekly reit report